CSM Advisors LLC Has $2.71 Million Holdings in Ardmore Shipping Corporation $ASC

CSM Advisors LLC increased its position in shares of Ardmore Shipping Corporation (NYSE:ASC) by 43.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,057 shares of the shipping company’s stock after purchasing an additional 68,781 shares during the period. CSM Advisors LLC’s holdings in Ardmore Shipping were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Ardmore Shipping by 14.8% during the third quarter. GAMMA Investing LLC now owns 7,241 shares of the shipping company’s stock worth $86,000 after buying an additional 931 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ardmore Shipping by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company’s stock valued at $242,000 after acquiring an additional 1,102 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Ardmore Shipping by 1.0% in the third quarter. Federated Hermes Inc. now owns 283,183 shares of the shipping company’s stock valued at $3,361,000 after acquiring an additional 2,765 shares in the last quarter. Raymond James Financial Inc. bought a new position in Ardmore Shipping during the second quarter worth about $38,000. Finally, Sei Investments Co. increased its position in Ardmore Shipping by 1.2% during the second quarter. Sei Investments Co. now owns 359,623 shares of the shipping company’s stock worth $3,452,000 after acquiring an additional 4,190 shares during the period. 62.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ASC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ardmore Shipping in a research report on Wednesday, December 24th. Wall Street Zen raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

Ardmore Shipping Stock Up 4.6%

Shares of NYSE ASC opened at $14.26 on Tuesday. The company has a 50 day simple moving average of $13.55 and a 200 day simple moving average of $12.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.33 and a quick ratio of 3.98. Ardmore Shipping Corporation has a 1 year low of $8.32 and a 1 year high of $16.91. The firm has a market cap of $580.85 million, a PE ratio of 16.02 and a beta of -0.16.

Ardmore Shipping (NYSE:ASC) last posted its earnings results on Thursday, February 12th. The shipping company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Ardmore Shipping had a net margin of 13.22% and a return on equity of 7.02%. The firm had revenue of $82.91 million for the quarter, compared to analyst estimates of $51.00 million. On average, research analysts forecast that Ardmore Shipping Corporation will post 1.06 EPS for the current year.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.36 annualized dividend and a dividend yield of 2.5%. Ardmore Shipping’s payout ratio is currently 40.45%.

Ardmore Shipping Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.