Ardmore Shipping Corporation Announces Quarterly Dividend of $0.09 (NYSE:ASC)

Ardmore Shipping Corporation (NYSE:ASC) declared a quarterly dividend on Thursday, February 5th. Stockholders of record on Friday, February 27th will be given a dividend of 0.09 per share by the shipping company on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th.

Ardmore Shipping has raised its dividend payment by an average of 0.4%annually over the last three years. Ardmore Shipping has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ardmore Shipping to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 26.1%.

Ardmore Shipping Stock Performance

Ardmore Shipping stock traded up $0.13 during trading hours on Wednesday, hitting $15.46. 128,676 shares of the stock traded hands, compared to its average volume of 688,104. Ardmore Shipping has a 1 year low of $8.32 and a 1 year high of $15.41. The stock has a market capitalization of $628.03 million, a price-to-earnings ratio of 17.38 and a beta of -0.09. The firm’s 50 day moving average price is $12.19 and its 200-day moving average price is $12.06. 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 (NYSE:ASC) last posted its earnings results on Thursday, February 12th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $82.91 million for the quarter, compared to analysts’ expectations of $51.00 million. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%. As a group, equities analysts expect that Ardmore Shipping will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASC. Dynamic Technology Lab Private Ltd acquired a new stake in Ardmore Shipping during the second quarter worth about $334,000. Private Management Group Inc. raised its position in shares of Ardmore Shipping by 3.4% during the 2nd quarter. Private Management Group Inc. now owns 1,242,297 shares of the shipping company’s stock worth $11,926,000 after purchasing an additional 40,460 shares during the period. American Century Companies Inc. lifted its holdings in shares of Ardmore Shipping by 4.4% in the 2nd quarter. American Century Companies Inc. now owns 1,642,656 shares of the shipping company’s stock worth $15,769,000 after purchasing an additional 69,788 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Ardmore Shipping in the second quarter valued at $434,000. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Ardmore Shipping in the third quarter valued at approximately $475,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

About Ardmore Shipping

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.