Ardmore Shipping (NYSE:ASC) Stock Unloaded Rep. Virginia Foxx

Representative Virginia Foxx (R-North Carolina) recently sold shares of Ardmore Shipping Co. (NYSE:ASC). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $15,001 and $50,000 in Ardmore Shipping stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Ardmore Shipping Stock Performance

Shares of ASC stock traded down $0.23 during mid-day trading on Thursday, reaching $12.54. The stock had a trading volume of 594,605 shares, compared to its average volume of 741,361. The firm has a market cap of $524.70 million, a price-to-earnings ratio of 3.51 and a beta of 0.28. The business’s fifty day moving average is $12.01 and its 200-day moving average is $16.47. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. Ardmore Shipping Co. has a 1-year low of $10.86 and a 1-year high of $23.44.

Ardmore Shipping Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s payout ratio is presently 20.17%.

Institutional Trading of Ardmore Shipping

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Ardmore Shipping by 12.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 131,120 shares of the shipping company’s stock valued at $2,954,000 after buying an additional 14,147 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Ardmore Shipping by 8.2% in the second quarter. Principal Financial Group Inc. now owns 24,802 shares of the shipping company’s stock worth $559,000 after acquiring an additional 1,877 shares in the last quarter. Rhumbline Advisers boosted its position in Ardmore Shipping by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 110,808 shares of the shipping company’s stock worth $2,496,000 after purchasing an additional 2,744 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Ardmore Shipping in the second quarter worth about $34,000. Finally, Acadian Asset Management LLC grew its stake in shares of Ardmore Shipping by 135.1% in the second quarter. Acadian Asset Management LLC now owns 308,200 shares of the shipping company’s stock valued at $6,936,000 after buying an additional 177,130 shares in the last quarter. 62.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ASC shares. StockNews.com cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Fearnley Fonds upgraded Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group lowered their target price on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating and dropped their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

Ardmore Shipping Company Profile

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.