Segall Bryant & Hamill LLC Purchases New Shares in Ardmore Shipping Corporation $ASC

Segall Bryant & Hamill LLC purchased a new position in shares of Ardmore Shipping Corporation (NYSE:ASC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 67,765 shares of the shipping company’s stock, valued at approximately $1,033,000. Segall Bryant & Hamill LLC owned approximately 0.17% of Ardmore Shipping as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ASC. LSV Asset Management bought a new stake in shares of Ardmore Shipping during the fourth quarter valued at approximately $618,000. Tudor Investment Corp ET AL bought a new position in Ardmore Shipping in the 3rd quarter worth approximately $1,170,000. Ticino Wealth bought a new position in Ardmore Shipping in the 4th quarter worth approximately $7,647,000. Marnell Management LLC acquired a new position in Ardmore Shipping during the 4th quarter worth $3,877,000. Finally, Renaissance Technologies LLC lifted its holdings in Ardmore Shipping by 18.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,736,632 shares of the shipping company’s stock worth $26,484,000 after buying an additional 266,275 shares in the last quarter. Institutional investors own 62.22% of the company’s stock.

Insiders Place Their Bets

In other news, Director Curtis B. Mcwilliams sold 16,277 shares of Ardmore Shipping stock in a transaction on Monday, May 18th. The shares were sold at an average price of $19.38, for a total transaction of $315,448.26. Following the transaction, the director directly owned 60,673 shares of the company’s stock, valued at $1,175,842.74. This trade represents a 21.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kirsi Tikka sold 12,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $18.93, for a total transaction of $227,160.00. Following the completion of the transaction, the director directly owned 35,471 shares of the company’s stock, valued at $671,466.03. This trade represents a 25.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 32,000 shares of company stock worth $613,488.

Ardmore Shipping Price Performance

Ardmore Shipping stock opened at $16.47 on Thursday. The firm has a market capitalization of $670.70 million, a P/E ratio of 6.36 and a beta of 0.03. Ardmore Shipping Corporation has a 1 year low of $10.17 and a 1 year high of $20.02. The business has a 50-day moving average of $16.21 and a 200-day moving average of $15.73. The company has a current ratio of 5.45, a quick ratio of 4.84 and a debt-to-equity ratio of 0.05.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.07. Ardmore Shipping had a net margin of 29.67% and a return on equity of 15.24%. The business had revenue of $116.21 million for the quarter, compared to the consensus estimate of $86.30 million.

Ardmore Shipping Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 19.2%. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 28th. Ardmore Shipping’s dividend payout ratio (DPR) is 60.23%.

Wall Street Analyst Weigh In

ASC has been the subject of several research reports. Evercore set a $19.00 target price on Ardmore Shipping in a research note on Tuesday, April 21st. Wall Street Zen lowered Ardmore Shipping from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Ardmore Shipping from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ardmore Shipping has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.