Ardmore Shipping Co. (NYSE:ASC) Stock Holdings Lifted 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, Holdings Channel reports. The firm owned 69,338 shares of the shipping company’s stock after buying an additional 17,211 shares during the period. Quantbot Technologies LP’s holdings in Ardmore Shipping were worth $1,255,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in Ardmore Shipping by 322.0% in the second quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company’s stock worth $28,000 after buying an additional 953 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ardmore Shipping during the 2nd quarter worth $29,000. Private Trust Co. NA bought a new position in shares of Ardmore Shipping during the 3rd quarter valued at $31,000. Larson Financial Group LLC acquired a new stake in shares of Ardmore Shipping in the 2nd quarter valued at $34,000. Finally, nVerses Capital LLC bought a new stake in Ardmore Shipping in the second quarter worth $47,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Stock Performance

ASC opened at $11.16 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.57 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $14.91 and its two-hundred day moving average price is $18.53. The firm has a market capitalization of $466.96 million, a P/E ratio of 3.13 and a beta of 0.37. Ardmore Shipping Co. has a 12-month low of $11.08 and a 12-month high of $23.44.

Ardmore Shipping Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Ardmore Shipping 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.