Ardmore Shipping Co. (NYSE:ASC) Position Raised by Quantbot Technologies LP

Quantbot Technologies LP raised its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 33.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,338 shares of the shipping company’s stock after purchasing an additional 17,211 shares during the quarter. Quantbot Technologies LP owned about 0.17% of Ardmore Shipping worth $1,255,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Ardmore Shipping by 51.0% during the 1st quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock valued at $8,885,000 after purchasing an additional 182,650 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Ardmore Shipping by 15.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,934 shares of the shipping company’s stock worth $196,000 after buying an additional 1,634 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Ardmore Shipping in the first quarter valued at $194,000. Tidal Investments LLC lifted its position in shares of Ardmore Shipping by 16.8% during the 1st quarter. Tidal Investments LLC now owns 18,906 shares of the shipping company’s stock valued at $310,000 after acquiring an additional 2,719 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Ardmore Shipping by 8.3% during the 1st quarter. Boston Partners now owns 75,950 shares of the shipping company’s stock worth $1,247,000 after acquiring an additional 5,841 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASC. Fearnley Fonds raised Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their price objective 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. Stifel Nicolaus downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating and dropped their target price for the stock from $24.00 to $17.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Ardmore Shipping Trading Down 0.5 %

Shares of NYSE ASC opened at $11.16 on Friday. 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 one year low of $11.08 and a one year high of $23.44. The business has a 50-day moving average price of $14.91 and a two-hundred day moving average price of $18.53. The firm has a market capitalization of $466.96 million, a PE ratio of 3.13 and a beta of 0.37.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Friday, November 29th. Ardmore Shipping’s dividend payout ratio is currently 20.17%.

About Ardmore Shipping

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.