Michels Family Financial LLC Takes Position in Ardmore Shipping Co. (NYSE:ASC)

Michels Family Financial LLC purchased a new position in Ardmore Shipping Co. (NYSE:ASC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 28,806 shares of the shipping company's stock, valued at approximately $350,000. Michels Family Financial LLC owned approximately 0.07% of Ardmore Shipping at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. PharVision Advisers LLC bought a new stake in shares of Ardmore Shipping in the 4th quarter worth approximately $252,000. Vident Advisory LLC raised its stake in Ardmore Shipping by 77.2% during the fourth quarter. Vident Advisory LLC now owns 43,784 shares of the shipping company's stock valued at $532,000 after buying an additional 19,080 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Ardmore Shipping in the fourth quarter worth $2,631,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Ardmore Shipping in the fourth quarter worth $212,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Ardmore Shipping in the fourth quarter worth $142,000. Institutional investors own 62.22% of the company's stock.

Ardmore Shipping Stock Performance

Shares of ASC stock opened at $9.78 on Friday. The firm has a market capitalization of $397.10 million, a PE ratio of 3.19 and a beta of -0.02. The company has a 50 day moving average price of $9.58 and a 200-day moving average price of $10.77. Ardmore Shipping Co. has a 52 week low of $8.32 and a 52 week high of $23.19. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The shipping company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. The company had revenue of $74.00 million for the quarter, compared to analysts' expectations of $43.04 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Ardmore Shipping's quarterly revenue was down 30.4% on a year-over-year basis. As a group, equities research analysts expect that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Ardmore Shipping Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 2.05%. Ardmore Shipping's payout ratio is 8.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASC. Fearnley Fonds upgraded shares of Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI dropped their target price on shares of Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on shares of Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Ardmore Shipping in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $13.67.

Read Our Latest Analysis on ASC

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.

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