Ardmore Shipping Co. (NYSE:ASC) Shares Acquired by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. boosted its position in Ardmore Shipping Co. (NYSE:ASC) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,230 shares of the shipping company’s stock after buying an additional 4,346 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Ardmore Shipping were worth $945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in Ardmore Shipping by 15.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,474 shares of the shipping company’s stock worth $316,000 after buying an additional 2,310 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Ardmore Shipping during the third quarter worth about $868,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ardmore Shipping in the 2nd quarter worth about $29,000. Sanctuary Advisors LLC bought a new stake in Ardmore Shipping in the 2nd quarter valued at about $454,000. Finally, Point72 Asset Management L.P. acquired a new position in Ardmore Shipping during the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ASC has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Ardmore Shipping from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Fearnley Fonds upgraded Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group increased their price target on Ardmore Shipping from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price objective on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Ardmore Shipping Stock Performance

Shares of NYSE ASC opened at $17.29 on Tuesday. Ardmore Shipping Co. has a 1 year low of $12.69 and a 1 year high of $23.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 3.50. The stock has a fifty day moving average price of $18.30 and a two-hundred day moving average price of $19.42. The firm has a market cap of $702.44 million, a P/E ratio of 6.62 and a beta of 0.35.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, July 31st. The shipping company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Ardmore Shipping had a return on equity of 24.26% and a net margin of 36.31%. The business had revenue of $121.30 million during the quarter, compared to analysts’ expectations of $80.51 million. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 32.0% on a year-over-year basis. Research analysts forecast that Ardmore Shipping Co. will post 3.46 EPS for the current fiscal year.

Ardmore Shipping Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.79%. Ardmore Shipping’s payout ratio is currently 58.24%.

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.