Ardmore Shipping (NYSE:ASC) Sees Unusually-High Trading Volume

Ardmore Shipping Co. (NYSE:ASC) shares saw an uptick in trading volume on Tuesday . Approximately 212,025 shares were traded during mid-day trading, a decline of 69% from the previous session’s volume of 680,025 shares.The stock last traded at $20.19 and had previously closed at $20.39.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their price objective on Ardmore Shipping from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, StockNews.com raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th.

Ardmore Shipping Price Performance

The company has a market cap of $820.73 million, a PE ratio of 7.81 and a beta of 0.39. The stock has a fifty day simple moving average of $21.51 and a two-hundred day simple moving average of $17.87. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.87 by $0.05. Ardmore Shipping had a net margin of 29.15% and a return on equity of 21.06%. The business had revenue of $106.30 million for the quarter, compared to analyst estimates of $72.46 million. During the same period in the previous year, the firm earned $1.04 EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities analysts predict that Ardmore Shipping Co. will post 3.25 EPS for the current fiscal year.

Ardmore Shipping Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 dividend on an annualized basis and a yield of 6.14%. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.21. Ardmore Shipping’s dividend payout ratio is presently 47.51%.

Hedge Funds Weigh In On Ardmore Shipping

A number of institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new stake in Ardmore Shipping during the 1st quarter worth about $54,000. Quadrant Capital Group LLC lifted its stake in shares of Ardmore Shipping by 87.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock valued at $62,000 after buying an additional 2,042 shares during the period. Mather Group LLC. acquired a new stake in Ardmore Shipping during the second quarter worth approximately $70,000. Daiwa Securities Group Inc. purchased a new stake in Ardmore Shipping in the 1st quarter worth approximately $108,000. Finally, Raymond James & Associates purchased a new position in shares of Ardmore Shipping during the 4th quarter worth $141,000. 62.22% of the stock is owned by institutional investors and hedge funds.

About Ardmore Shipping

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.