36,849 Shares in Ardmore Shipping Corporation $ASC Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in Ardmore Shipping Corporation (NYSE:ASC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 36,849 shares of the shipping company’s stock, valued at approximately $516,000.

Several other institutional investors also recently bought and sold shares of ASC. AQR Capital Management LLC lifted its stake in shares of Ardmore Shipping by 31.2% during the 1st quarter. AQR Capital Management LLC now owns 77,769 shares of the shipping company’s stock worth $761,000 after purchasing an additional 18,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ardmore Shipping by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company’s stock valued at $242,000 after purchasing an additional 1,102 shares during the period. Empowered Funds LLC grew its position in shares of Ardmore Shipping by 7.5% in the first quarter. Empowered Funds LLC now owns 234,987 shares of the shipping company’s stock valued at $2,301,000 after purchasing an additional 16,458 shares during the period. JPMorgan Chase & Co. increased its stake in Ardmore Shipping by 23.1% in the second quarter. JPMorgan Chase & Co. now owns 311,162 shares of the shipping company’s stock valued at $2,987,000 after purchasing an additional 58,330 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Ardmore Shipping by 1,689.0% in the second quarter. EverSource Wealth Advisors LLC now owns 8,444 shares of the shipping company’s stock valued at $81,000 after purchasing an additional 7,972 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen lowered Ardmore Shipping from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of Ardmore Shipping from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Ardmore Shipping Stock Up 4.1%

Shares of NYSE ASC opened at $17.67 on Friday. Ardmore Shipping Corporation has a 52-week low of $10.31 and a 52-week high of $20.02. The firm has a fifty day moving average of $16.53 and a 200-day moving average of $16.31. The stock has a market capitalization of $719.70 million, a PE ratio of 6.82 and a beta of 0.03. The company has a quick ratio of 4.84, a current ratio of 5.45 and a debt-to-equity ratio of 0.05.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Thursday, July 30th. The shipping company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.07. Ardmore Shipping had a return on equity of 15.24% and a net margin of 29.67%.The business had revenue of $116.21 million for the quarter, compared to analyst estimates of $86.30 million.

Ardmore Shipping Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.79 per share. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.39. This represents a $3.16 annualized dividend and a yield of 17.9%. The ex-dividend date is Friday, August 28th. Ardmore Shipping’s payout ratio is currently 60.23%.

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.