Ardmore Shipping (NYSE:ASC) Stock Unloaded Rep. Virginia Foxx

Representative Virginia Foxx (R-North Carolina) recently sold shares of Ardmore Shipping Co. (NYSE:ASC). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $15,001 and $50,000 in Ardmore Shipping stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Ardmore Shipping Stock Down 1.8 %

ASC opened at $12.54 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The company has a market cap of $524.70 million, a price-to-earnings ratio of 3.51 and a beta of 0.28. The business’s fifty day moving average is $12.01 and its two-hundred day moving average is $16.47. Ardmore Shipping Co. has a one year low of $10.86 and a one year high of $23.44.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s dividend payout ratio is presently 20.17%.

Hedge Funds Weigh In On Ardmore Shipping

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardmore Shipping in the 2nd quarter valued at $29,000. Larson Financial Group LLC bought a new position in Ardmore Shipping in the second quarter valued at about $34,000. Private Trust Co. NA acquired a new stake in Ardmore Shipping in the third quarter worth about $31,000. GAMMA Investing LLC lifted its position in Ardmore Shipping by 261.1% during the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 1,530 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Ardmore Shipping by 2,906.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 2,906 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ASC shares. Fearnley Fonds raised Ardmore Shipping to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus cut Ardmore Shipping from a “buy” rating to a “hold” rating and cut their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group dropped their price target on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

Ardmore Shipping Company Profile

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.