Jackson Creek Investment Advisors LLC Buys Shares of 40,023 Ardmore Shipping Corporation $ASC

Jackson Creek Investment Advisors LLC acquired a new stake in Ardmore Shipping Corporation (NYSE:ASC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 40,023 shares of the shipping company’s stock, valued at approximately $475,000.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC grew its stake 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 purchasing an additional 931 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ardmore Shipping by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company’s stock worth $242,000 after buying an additional 1,102 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Ardmore Shipping by 1.0% during the third quarter. Federated Hermes Inc. now owns 283,183 shares of the shipping company’s stock worth $3,361,000 after purchasing an additional 2,765 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in Ardmore Shipping in the 2nd quarter valued at $33,000. Finally, Raymond James Financial Inc. acquired a new position in Ardmore Shipping in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Price Performance

Shares of NYSE:ASC opened at $12.80 on Tuesday. The firm has a market capitalization of $519.73 million, a price-to-earnings ratio of 16.40 and a beta of -0.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.46 and a quick ratio of 4.08. The business’s 50 day simple moving average is $11.56 and its 200-day simple moving average is $11.70. Ardmore Shipping Corporation has a 12 month low of $8.32 and a 12 month high of $13.56.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Wednesday, November 5th. The shipping company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $81.25 million during the quarter, compared to analysts’ expectations of $48.38 million. Ardmore Shipping had a return on equity of 6.69% and a net margin of 11.50%.Ardmore Shipping’s revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, equities analysts forecast that Ardmore Shipping Corporation will post 1.06 earnings per share for the current fiscal year.

Ardmore Shipping Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a $0.10 dividend. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, November 28th. Ardmore Shipping’s dividend payout ratio (DPR) is currently 51.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ASC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ardmore Shipping in a research note on Wednesday, December 24th. Jefferies Financial Group restated a “buy” rating and issued a $15.00 price target on shares of Ardmore Shipping in a research note on Wednesday, November 5th. Finally, Evercore ISI increased their price objective on Ardmore Shipping from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

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.