Dynamic Technology Lab Private Ltd Makes New $334,000 Investment in Ardmore Shipping Corporation $ASC

by · The Cerbat Gem

Dynamic Technology Lab Private Ltd acquired a new stake in Ardmore Shipping Corporation (NYSE:ASC – Free Report) in the second quarter, Holdings Channel.com reports. The fund acquired 34,826 shares of the shipping company’s stock, valued at approximately $334,000.

A number of other institutional investors also recently bought and sold shares of ASC. Greenland Capital Management LP acquired a new position in Ardmore Shipping in the second quarter valued at approximately $144,000. CSM Advisors LLC purchased a new stake in Ardmore Shipping in the second quarter valued at $1,527,000. Los Angeles Capital Management LLC purchased a new stake in Ardmore Shipping in the second quarter valued at $434,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Ardmore Shipping in the 2nd quarter valued at $33,000. Finally, R Squared Ltd purchased a new position in shares of Ardmore Shipping during the 2nd quarter worth $126,000. 62.22% of the stock is owned by hedge funds and other institutional investors.

Ardmore Shipping Stock Down 2.7%

Ardmore Shipping stock opened at $12.51 on Wednesday. The stock’s fifty day moving average is $12.30 and its two-hundred day moving average is $11.15. The stock has a market cap of $508.12 million, a PE ratio of 16.04 and a beta of 0.01. Ardmore Shipping Corporation has a 1-year low of $8.32 and a 1-year high of $13.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.46 and a quick ratio of 4.08.

Ardmore Shipping (NYSE:ASC – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The shipping company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. Ardmore Shipping had a net margin of 11.50% and a return on equity of 6.69%. The business had revenue of $81.25 million during the quarter, compared to the consensus estimate of $48.38 million. During the same quarter in the previous year, the firm earned $0.55 EPS. The company’s revenue was down 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Ardmore Shipping Corporation will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a $0.10 dividend. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, November 28th. This represents a $0.40 annualized dividend and a yield of 3.2%. Ardmore Shipping’s payout ratio is presently 35.90%.

Wall Street Analyst Weigh In

ASC has been the topic of a number of recent analyst reports. Zacks Research cut shares of Ardmore Shipping from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Ardmore Shipping in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 target price on shares of Ardmore Shipping in a report on Wednesday, November 5th. Finally, Evercore ISI boosted their target price on Ardmore Shipping from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.67.

Read Our Latest Research Report on Ardmore Shipping

Ardmore Shipping Company 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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