Ardmore Shipping (NYSE:ASC) Director Curtis Mcwilliams Sells 848 Shares of Stock

Ardmore Shipping Corporation (NYSE:ASC) Director Curtis Mcwilliams sold 848 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $19.01, for a total value of $16,120.48. Following the transaction, the director owned 76,950 shares of the company’s stock, valued at $1,462,819.50. This represents a 1.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ardmore Shipping Price Performance

Shares of NYSE ASC opened at $18.83 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.87 and a quick ratio of 4.43. The firm has a market capitalization of $767.07 million, a PE ratio of 14.16 and a beta of 0.03. Ardmore Shipping Corporation has a 1-year low of $9.18 and a 1-year high of $20.02. The business’s fifty day moving average price is $16.29 and its two-hundred day moving average price is $13.89.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Thursday, May 7th. The shipping company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $87.92 million during the quarter, compared to the consensus estimate of $58.08 million. Ardmore Shipping had a net margin of 18.00% and a return on equity of 9.63%.

Ardmore Shipping Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date of this dividend is Friday, May 29th. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.09. Ardmore Shipping’s dividend payout ratio (DPR) is presently 27.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ASC shares. Wall Street Zen upgraded shares of Ardmore Shipping from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Evercore set a $19.00 price objective on Ardmore Shipping in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Investors Weigh In On Ardmore Shipping

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Ardmore Shipping by 93.5% during the 1st quarter. Bank of America Corp DE now owns 139,639 shares of the shipping company’s stock valued at $2,129,000 after buying an additional 67,473 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Ardmore Shipping by 10.2% in the first quarter. EverSource Wealth Advisors LLC now owns 7,358 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 680 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Ardmore Shipping by 43.3% during the first quarter. Quantinno Capital Management LP now owns 184,844 shares of the shipping company’s stock valued at $2,819,000 after acquiring an additional 55,888 shares during the period. Renaissance Technologies LLC raised its holdings in Ardmore Shipping by 18.1% during the first quarter. Renaissance Technologies LLC now owns 1,736,632 shares of the shipping company’s stock worth $26,484,000 after purchasing an additional 266,275 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Ardmore Shipping by 11.9% during the first quarter. Sei Investments Co. now owns 305,706 shares of the shipping company’s stock worth $4,662,000 after purchasing an additional 32,450 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

About Ardmore Shipping

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.