Sei Investments Co. Has $8.14 Million Holdings in Ardmore Shipping Co. (NYSE:ASC)
Sei Investments Co. increased its holdings in Ardmore Shipping Co. by 15% during the first quarter, according to its recent filing with the SEC. Sei Investments now owns about 1.22% of Ardmore Shipping worth $8.14 million. Other institutional investors and hedge funds have also made changes to their positions in ASC. Analysts have set new price targets for Ardmore Shipping, with several research firms giving it a "buy" rating. Ardmore Shipping recently announced an increased quarterly dividend.
Sei Investments Co. grew its holdings in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 15.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 495,593 shares of the shipping company's stock after purchasing an additional 64,805 shares during the quarter. Sei Investments Co. owned about 1.22% of Ardmore Shipping worth $8,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Get Ardmore Shipping alerts:
Several other institutional investors and hedge funds also recently made changes to their positions in ASC. Sunbelt Securities Inc. bought a new stake in shares of Ardmore Shipping in the 1st quarter valued at $54,000. Quadrant Capital Group LLC grew its holdings in Ardmore Shipping by 87.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company's stock worth $62,000 after purchasing an additional 2,042 shares during the period. Daiwa Securities Group Inc. bought a new stake in Ardmore Shipping in the first quarter valued at $108,000. MJP Associates Inc. ADV acquired a new position in shares of Ardmore Shipping during the fourth quarter valued at about $141,000. Finally, Raymond James & Associates bought a new position in shares of Ardmore Shipping during the 4th quarter worth about $141,000. Institutional investors own 62.22% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on ASC. StockNews.com raised Ardmore Shipping from a "hold" rating to a "buy" rating in a research note on Wednesday, May 15th. Stifel Nicolaus increased their target price on Ardmore Shipping from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Finally, Jefferies Financial Group boosted their price target on shares of Ardmore Shipping from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, May 8th.
Check Out Our Latest Stock Analysis on Ardmore Shipping
Ardmore Shipping Price Performance
ASC stock opened at $20.19 on Friday. The company has a market capitalization of $820.26 million, a P/E ratio of 7.74 and a beta of 0.39. Ardmore Shipping Co. has a 52-week low of $11.78 and a 52-week high of $23.44. The business has a 50-day simple moving average of $21.83 and a two-hundred day simple moving average of $18.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.79 and a current ratio of 1.95.
Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its earnings results on Wednesday, May 8th. The shipping company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.05. The company had revenue of $106.30 million for the quarter, compared to analysts' expectations of $72.46 million. Ardmore Shipping had a return on equity of 21.06% and a net margin of 29.15%. Ardmore Shipping's quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Research analysts expect that Ardmore Shipping Co. will post 3.25 EPS for the current fiscal year.
Ardmore Shipping Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 annualized dividend and a dividend yield of 6.14%. This is an increase from Ardmore Shipping's previous quarterly dividend of $0.21. Ardmore Shipping's dividend payout ratio is currently 47.51%.
About Ardmore Shipping
(Free Report)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.
See Also
- Five stocks we like better than Ardmore Shipping
- What is the Dow Jones Industrial Average (DJIA)?
- Is This Telehealth Stock a Buy After the Recent Pullback?
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- Safeguard Against Credit Card Risks with This Top Financial Stock
- With Risk Tolerance, One Size Does Not Fit All
- Streaming Titan's Stock Ready to Hit All-Time Highs This Year
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
→ [URGENT] Altcoin Winning Picks (From Crypto Swap Profits) (Ad)
Should you invest $1,000 in Ardmore Shipping right now?
Before you consider Ardmore Shipping, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardmore Shipping wasn't on the list.
While Ardmore Shipping currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
