Ardmore Shipping Corporation (ASC) is a global provider of seaborne transportation for petroleum products and chemicals. Incorporated and headquartered in Bermuda, the company has principal executive offices in Cork, Ireland, and New York, USA. The company's name, Ardmore, originates from a small village in Ireland that equally captures the picturesque and dynamic character of the sea transportation industry.
Founded in 2010, Ardmore Shipping Corp operates a fleet of Medium Range (MR) product and chemical tankers to cater to the needs of their customers worldwide. These tankers range from 25,000 to 50,000 deadweight tonnages and are designed to carry a wide range of refined oil products, chemicals, and biofuels in various global shipping routes.
Renowned for its flexibility, scalability and efficiency, the company aims at providing cost-effective solutions, without compromising on the safety and environmental standards. They emphasize an asset-light strategy, capitalizing on hired vessels rather than owning them outright, which provides them the flexibility to scale up or down based on market demand.
The company employs a mix of spot and period employment to maximize earnings in strong markets and protect downside in weaker markets. ASC serves some of the world's largest oil majors, oil traders, commodity traders and chemical companies including BP, Shell, ExxonMobil, Chevron, Valero, Glencore, Vitol, and Cargill.
Ardmore Shipping Corp is publicly listed on the New York Stock Exchange (NYSE) under the ticker symbol "ASC". Despite the volatility of the shipping industry, the company has been able to demonstrate a robust financial performance over the years, underpinned by steady crude oil production and increasing demand for refined oil products.
Beyond commercial success, Ardmore Shipping Corp is also committed to responsible environmental practices. The company actively seeks to minimize their ecological footprint by reducing emissions, managing waste, and optimizing the energy efficiency of their fleet for sustainable shipping. They also form part of the United Nations Global Compact Network promoting sustainable and socially responsible policies in the corporate world.
In conclusion, Ardmore Shipping Corporation stands as a dynamic player in the sea transport sector with its extensive fleet, commitment to sustainability, robust financial performance, and unwavering focus on customer needs. A veritable blend of traditional shipping values with a modern, innovative drive, ASC remains an integral part of the global maritime transportation industry.
Income statement
Balance sheet statement
Cash flow statement
Current assets / Current liabilities
Equity / Debt / Cash
Dividends
Ardmore Shipping (NYSE:ASC) stock has risen above its 50-day moving average, reaching $17.87 before settling at $17.576. Analysts have become more positive on the stock, with recent upgrades to "strong buy" and "buy" ratings. The company recently exceeded quarterly earnings expectations and increased its quarterly dividend, resulting in an annualized yield of approximately 18%.
Engineers Gate Manager LP significantly increased its stake in Ardmore Shipping Corporation (ASC) by 228.8% in the second quarter, now holding 131,362 shares valued at $1.84 million. The company reported strong financial results, surpassing analyst estimates for both EPS and revenue, and doubled its quarterly dividend. Institutional investors hold a substantial portion of ASC's stock, and analysts maintain a "Moderate Buy" rating with an average price target of $17.00.
Bank of New York Mellon Corp has acquired a new stake in Ardmore Shipping Corporation, purchasing 98,238 shares valued at approximately $1.38 million. This investment comes as Ardmore Shipping reported strong quarterly earnings, beating analyst expectations, and increased its quarterly dividend to $0.79 per share, representing a 17.4% annualized yield. Institutional investors collectively own 62.22% of ASC, and analysts maintain a "Moderate Buy" consensus rating with a $17 average price target.
Wellington Management Group LLP has invested $27.78 million in Ardmore Shipping Corporation, acquiring nearly 2 million shares, which represents a 4.87% stake. The shipping company has shown strong financial performance, exceeding analyst expectations for its quarterly earnings and revenue, and has doubled its quarterly dividend. Analysts currently rate Ardmore Shipping as a "Moderate Buy" with a target price of $17.00.
BlackRock Inc. has acquired a new position of 3,845,646 shares in Ardmore Shipping Corporation (NYSE:ASC), valued at approximately $53.88 million, making it a significant institutional investor with 9.44% ownership. Other institutional investors have also adjusted their holdings in the company. Ardmore Shipping recently reported strong quarterly earnings, exceeding analyst expectations, and announced an increased quarterly dividend of $0.79 per share.
Private Management Group Inc. reduced its stake in Ardmore Shipping Corporation (NYSE:ASC) by 12% in the second quarter, now holding 1.07 million shares valued at $14.97 million. Ardmore Shipping reported strong quarterly earnings of $1.18 per share, exceeding estimates, and increased its quarterly dividend to $0.79, implying an 18.2% yield. Analysts maintain a "Moderate Buy" consensus with a $17 price target for the stock.
Navellier & Associates Inc. acquired a new stake of 157,157 shares in Ardmore Shipping Corporation (NYSE:ASC), valued at approximately $2.2 million, bringing their ownership to 0.39% of the company. Ardmore Shipping reported strong financial results, beating EPS and revenue estimates, and increased its quarterly dividend to $0.79 per share, offering an 18.2% annualized yield. The company currently has a "Moderate Buy" consensus rating with a price target of $17.00 from analysts.
Connor Clark & Lunn Investment Management Ltd. has acquired 543,549 shares of Ardmore Shipping Corporation (NYSE:ASC), valued at approximately $7.6 million, representing a 1.33% stake in the company. Other institutional investors like BlackRock and Dimensional Fund Advisors LP also increased their positions. Ardmore Shipping recently reported strong quarterly earnings, beating estimates with $1.18 per share and $116.2 million in revenue, and doubled its quarterly dividend to $0.79 per share, yielding an annualized 18.7%.
Flat Footed LLC has acquired a new position in Ardmore Shipping Corporation (NYSE:ASC), purchasing 948,865 shares valued at approximately $13.29 billion, making it their 8th largest holding. Other institutional investors like BlackRock Inc., Dimensional Fund Advisors LP, and Renaissance Technologies LLC have also adjusted their stakes in the company. Ardmore Shipping recently reported strong quarterly earnings, beating analyst estimates, and increased its quarterly dividend to $0.79 per share.