LSV Asset Management Buys Shares of 58,400 Ardmore Shipping Corporation $ASC

LSV Asset Management bought a new stake in shares of Ardmore Shipping Corporation (NYSE:ASC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 58,400 shares of the shipping company’s stock, valued at approximately $618,000.

A number of other institutional investors also recently modified their holdings of the stock. Ticino Wealth acquired a new stake in shares of Ardmore Shipping in the 4th quarter valued at $7,647,000. Franklin Resources Inc. lifted its stake in shares of Ardmore Shipping by 848.0% in the 3rd quarter. Franklin Resources Inc. now owns 324,295 shares of the shipping company’s stock valued at $3,849,000 after purchasing an additional 290,087 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Ardmore Shipping by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 1,749,153 shares of the shipping company’s stock valued at $20,762,000 after purchasing an additional 106,497 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Ardmore Shipping in the 3rd quarter valued at $1,170,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Ardmore Shipping in the 3rd quarter valued at $864,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Insider Buying and Selling

In related 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 value of $315,448.26. Following the transaction, the director owned 60,673 shares in the company, valued at $1,175,842.74. This trade represents a 21.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kirsi Tikka sold 12,000 shares of Ardmore Shipping stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $18.93, for a total transaction of $227,160.00. Following the completion of the transaction, the director owned 35,471 shares in the company, valued at $671,466.03. This trade represents a 25.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,000 shares of company stock worth $766,048 in the last quarter.

Ardmore Shipping Stock Performance

Shares of ASC opened at $17.75 on Thursday. The company has a market capitalization of $722.84 million, a PE ratio of 13.34 and a beta of 0.03. Ardmore Shipping Corporation has a one year low of $9.18 and a one year high of $20.02. 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 company’s fifty day moving average price is $16.77 and its 200 day moving average price is $14.16.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Thursday, May 7th. The shipping company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. The firm had revenue of $87.92 million for 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. Investors of record on Friday, May 29th will be issued a $0.39 dividend. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, May 29th. This represents a $1.56 annualized dividend and a yield of 8.8%. Ardmore Shipping’s payout ratio is 27.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ASC shares. Wall Street Zen raised 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 shares of Ardmore Shipping in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Ardmore Shipping has an average 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.