37,990 Shares of Ardmore Shipping Corporation $ASC Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC purchased a new position in Ardmore Shipping Corporation (NYSE:ASC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,990 shares of the shipping company’s stock, valued at approximately $688,000. SummerHaven Investment Management LLC owned 0.09% of Ardmore Shipping at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ASC. EverSource Wealth Advisors LLC boosted its position in Ardmore Shipping by 10.2% during the first quarter. EverSource Wealth Advisors LLC now owns 7,358 shares of the shipping company’s stock worth $112,000 after purchasing an additional 680 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Ardmore Shipping by 49.6% in the third quarter. Farther Finance Advisors LLC now owns 4,309 shares of the shipping company’s stock valued at $80,000 after buying an additional 1,429 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ardmore Shipping by 20.1% in the third quarter. GAMMA Investing LLC now owns 8,629 shares of the shipping company’s stock valued at $161,000 after buying an additional 1,446 shares in the last quarter. SmartHarvest Portfolios LLC increased its position in shares of Ardmore Shipping by 12.0% in the first quarter. SmartHarvest Portfolios LLC now owns 16,702 shares of the shipping company’s stock valued at $255,000 after buying an additional 1,796 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Ardmore Shipping by 17.7% in the first quarter. First Trust Advisors LP now owns 18,646 shares of the shipping company’s stock valued at $284,000 after buying an additional 2,799 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Stock Down 0.3%

Shares of NYSE ASC opened at $18.93 on Friday. The company’s 50-day simple moving average is $18.30 and its 200-day simple moving average is $17.22. Ardmore Shipping Corporation has a 52-week low of $10.31 and a 52-week high of $20.60. The firm has a market cap of $770.96 million, a price-to-earnings ratio of 7.31 and a beta of 0.11. The company has a quick ratio of 4.84, a current ratio of 5.45 and a debt-to-equity ratio of 0.05.

Ardmore Shipping (NYSE:ASC) last released its earnings results on Thursday, July 30th. The shipping company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.07. Ardmore Shipping had a net margin of 29.67% and a return on equity of 15.24%. The business had revenue of $116.21 million during the quarter, compared to analysts’ expectations of $86.30 million.

Ardmore Shipping Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 28th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 16.7%. The ex-dividend date was Friday, August 28th. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.39. Ardmore Shipping’s payout ratio is presently 122.01%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ASC shares. Weiss Ratings raised Ardmore Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 22nd. Wall Street Zen raised shares of Ardmore Shipping from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $17.00.

Ardmore Shipping Profile

Ardmore Shipping Corporation (NYSE: ASC) is a maritime transportation company that owns and operates a fleet of product and chemical tankers. The company transports refined petroleum products, such as gasoline, diesel and jet fuel, as well as chemicals and other liquid commodities for customers involved in the energy and industrial sectors.

Ardmore’s fleet primarily includes medium-range product tankers and chemical tankers designed to serve regional and international trade routes. Its vessels operate worldwide, supporting the movement of cargo between major refining, distribution and consumption markets.