American Century Companies Inc. lessened its holdings in shares of Ardmore Shipping (NYSE:ASC) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,257,897 shares of the shipping company’s stock after selling 43,400 shares during the quarter. American Century Companies Inc. owned 3.75% of Ardmore Shipping worth $9,560,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ASC. Boston Partners increased its stake in Ardmore Shipping by 59.7% during the 4th quarter. Boston Partners now owns 1,669,220 shares of the shipping company’s stock valued at $13,354,000 after purchasing an additional 623,752 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Ardmore Shipping by 81.4% during the 4th quarter. Bank of New York Mellon Corp now owns 946,541 shares of the shipping company’s stock valued at $7,571,000 after purchasing an additional 424,688 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ardmore Shipping by 46.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 706,866 shares of the shipping company’s stock valued at $5,832,000 after purchasing an additional 224,920 shares in the last quarter. Royce & Associates LP grew its stake in shares of Ardmore Shipping by 8.4% in the 4th quarter. Royce & Associates LP now owns 2,108,775 shares of the shipping company’s stock worth $16,870,000 after acquiring an additional 163,250 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its stake in shares of Ardmore Shipping by 5.2% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,223,640 shares of the shipping company’s stock worth $24,500,000 after acquiring an additional 160,378 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.
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Ardmore Shipping opened at $7.95 on Monday, according to MarketBeat. Ardmore Shipping has a 1 year low of $6.40 and a 1 year high of $9.05. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.31 and a quick ratio of 1.13. The firm has a market capitalization of $266.93 million, a PE ratio of -21.49 and a beta of 0.94.
Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, May 2nd. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). The firm had revenue of $50.40 million during the quarter, compared to the consensus estimate of $31.03 million. Ardmore Shipping had a negative return on equity of 3.98% and a negative net margin of 7.88%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. analysts forecast that Ardmore Shipping will post -0.07 earnings per share for the current fiscal year.
Several research firms have recently issued reports on ASC. ValuEngine upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Zacks Investment Research lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, April 19th. JPMorgan Chase upped their target price on shares of Ardmore Shipping from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, March 23rd. Finally, Stifel Nicolaus set a $9.00 target price on shares of Ardmore Shipping and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Ardmore Shipping has an average rating of “Hold” and a consensus target price of $10.42.
Ardmore Shipping Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.