Ardmore Shipping (NYSE:ASC) Sets New 1-Year High at $17.17

Shares of Ardmore Shipping Co. (NYSE:ASC) reached a new 52-week high on Tuesday . The stock traded as high as $17.17 and last traded at $16.86, with a volume of 95435 shares traded. The stock had previously closed at $17.01.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price objective on shares of Ardmore Shipping in a research note on Thursday, February 15th. StockNews.com cut Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Monday. Finally, Stifel Nicolaus raised their price objective on shares of Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 19th.

Ardmore Shipping Stock Down 0.3 %

The company has a current ratio of 3.75, a quick ratio of 3.38 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $16.24 and its 200-day moving average price is $15.11. The company has a market cap of $678.32 million, a P/E ratio of 6.12 and a beta of 0.38.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The business had revenue of $98.80 million for the quarter, compared to the consensus estimate of $64.26 million. During the same period in the prior year, the business earned $1.33 EPS. The firm’s revenue for the quarter was down 25.6% on a year-over-year basis. As a group, research analysts forecast that Ardmore Shipping Co. will post 2.72 EPS for the current year.

Ardmore Shipping Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 5.03%. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.16. Ardmore Shipping’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. increased its position in shares of Ardmore Shipping by 39.9% during the third quarter. Stratos Wealth Partners LTD. now owns 32,106 shares of the shipping company’s stock worth $418,000 after acquiring an additional 9,157 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Ardmore Shipping during the 3rd quarter worth approximately $141,000. Strs Ohio purchased a new stake in shares of Ardmore Shipping in the third quarter worth approximately $580,000. Inspire Investing LLC lifted its holdings in shares of Ardmore Shipping by 7.9% in the third quarter. Inspire Investing LLC now owns 50,400 shares of the shipping company’s stock valued at $656,000 after purchasing an additional 3,675 shares in the last quarter. Finally, WealthTrust Axiom LLC boosted its position in shares of Ardmore Shipping by 19.4% during the third quarter. WealthTrust Axiom LLC now owns 110,276 shares of the shipping company’s stock valued at $1,435,000 after buying an additional 17,900 shares during the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.