Dimensional Fund Advisors LP Has $38.87 Million Stock Holdings in Ardmore Shipping Co. (NYSE:ASC)

Dimensional Fund Advisors LP grew its holdings in Ardmore Shipping Co. (NYSE:ASCFree Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,758,657 shares of the shipping company’s stock after buying an additional 56,984 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.47% of Ardmore Shipping worth $38,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASC. Russell Investments Group Ltd. increased its stake in shares of Ardmore Shipping by 51.1% in the fourth quarter. Russell Investments Group Ltd. now owns 606,898 shares of the shipping company’s stock valued at $8,551,000 after buying an additional 205,245 shares in the last quarter. Glenorchy Capital Ltd acquired a new stake in Ardmore Shipping in the fourth quarter worth about $2,081,000. Tejara Capital Ltd acquired a new stake in Ardmore Shipping in the third quarter worth about $1,171,000. GSA Capital Partners LLP increased its position in Ardmore Shipping by 289.8% in the third quarter. GSA Capital Partners LLP now owns 78,319 shares of the shipping company’s stock worth $1,019,000 after purchasing an additional 58,228 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Ardmore Shipping by 23.6% in the third quarter. Qube Research & Technologies Ltd now owns 291,861 shares of the shipping company’s stock worth $3,797,000 after purchasing an additional 55,813 shares during the period. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASC has been the topic of a number of recent analyst reports. StockNews.com upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Jefferies Financial Group raised their target price on Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus raised their target price on Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 19th.

Check Out Our Latest Research Report on Ardmore Shipping

Ardmore Shipping Price Performance

Shares of ASC opened at $23.00 on Friday. Ardmore Shipping Co. has a 1 year low of $11.59 and a 1 year high of $23.44. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. The stock has a market cap of $934.29 million, a P/E ratio of 8.81 and a beta of 0.36. The stock’s 50-day moving average price is $18.41 and its two-hundred day moving average price is $16.25.

Ardmore Shipping (NYSE:ASCGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.05. Ardmore Shipping had a return on equity of 21.06% and a net margin of 29.15%. The business had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $72.46 million. During the same quarter in the previous year, the business posted $1.04 EPS. Ardmore Shipping’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities analysts predict that Ardmore Shipping Co. will post 3.25 earnings per share for the current year.

Ardmore Shipping Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Friday, May 31st. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.21. Ardmore Shipping’s payout ratio is 32.18%.

Ardmore Shipping Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ardmore Shipping (NYSE:ASC)

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