Picton Mahoney Asset Management Buys Shares of 72,834 Ardmore Shipping Corporation $ASC

Picton Mahoney Asset Management bought a new stake in Ardmore Shipping Corporation (NYSE:ASC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 72,834 shares of the shipping company’s stock, valued at approximately $864,000.

Several other large investors also recently added to or reduced their stakes in ASC. American Century Companies Inc. raised its holdings in Ardmore Shipping by 6.5% during the third quarter. American Century Companies Inc. now owns 1,749,153 shares of the shipping company’s stock valued at $20,762,000 after buying an additional 106,497 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ardmore Shipping in the third quarter worth about $607,000. Fox Run Management L.L.C. bought a new stake in shares of Ardmore Shipping during the 3rd quarter worth about $270,000. Michels Family Financial LLC boosted its stake in shares of Ardmore Shipping by 18.7% during the 3rd quarter. Michels Family Financial LLC now owns 31,774 shares of the shipping company’s stock worth $377,000 after acquiring an additional 5,002 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ardmore Shipping by 15.7% during the 3rd quarter. Vanguard Group Inc. now owns 303,626 shares of the shipping company’s stock valued at $3,604,000 after acquiring an additional 41,138 shares during the last quarter. 62.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ardmore Shipping in a report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ardmore Shipping presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Ardmore Shipping Trading Down 1.1%

ASC opened at $15.96 on Friday. Ardmore Shipping Corporation has a 1-year low of $8.32 and a 1-year high of $16.91. The stock has a market capitalization of $648.25 million, a PE ratio of 17.93 and a beta of -0.16. The company has a current ratio of 4.33, a quick ratio of 3.98 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $13.05 and a two-hundred day moving average price of $12.36.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Thursday, February 12th. The shipping company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%.The firm had revenue of $82.91 million during the quarter, compared to analysts’ expectations of $51.00 million. As a group, equities analysts anticipate that Ardmore Shipping Corporation will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, February 27th. Ardmore Shipping’s dividend payout ratio is presently 40.45%.

Ardmore Shipping Profile

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.