Algert Global LLC Takes Position in Ardmore Shipping Co. (NYSE:ASC)

Algert Global LLC bought a new position in Ardmore Shipping Co. (NYSE:ASC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,602 shares of the shipping company’s stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Ardmore Shipping by 47.2% in the second quarter. Renaissance Technologies LLC now owns 1,400,981 shares of the shipping company’s stock worth $31,564,000 after purchasing an additional 449,200 shares in the last quarter. Foundry Partners LLC increased its stake in Ardmore Shipping by 217.5% in the 3rd quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock worth $10,232,000 after buying an additional 387,240 shares in the last quarter. American Century Companies Inc. raised its holdings in Ardmore Shipping by 27.4% during the second quarter. American Century Companies Inc. now owns 1,124,835 shares of the shipping company’s stock valued at $25,343,000 after acquiring an additional 241,748 shares during the period. Vanguard Group Inc. lifted its position in shares of Ardmore Shipping by 51.0% in the first quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock valued at $8,885,000 after acquiring an additional 182,650 shares in the last quarter. Finally, Acadian Asset Management LLC boosted 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 worth $6,936,000 after acquiring an additional 177,130 shares during the period. Institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Stock Down 0.5 %

NYSE ASC opened at $11.16 on Friday. The stock has a 50 day moving average price of $14.91 and a 200-day moving average price of $18.53. Ardmore Shipping Co. has a one year low of $11.08 and a one year high of $23.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The company has a market capitalization of $466.96 million, a P/E ratio of 3.13 and a beta of 0.37.

Ardmore Shipping Cuts Dividend

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

Analysts Set New Price Targets

ASC has been the topic of several recent analyst reports. Jefferies Financial Group decreased their target price on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. Stifel Nicolaus cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating and cut their target price for the company from $24.00 to $17.00 in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.