Point72 Asset Management L.P. Has $307,000 Stock Position in Ardmore Shipping Co. (NYSE:ASC)

Point72 Asset Management L.P. grew its stake in shares of Ardmore Shipping Co. (NYSE:ASC) by 86.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,943 shares of the shipping company’s stock after acquiring an additional 7,843 shares during the period. Point72 Asset Management L.P.’s holdings in Ardmore Shipping were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ASC. Vanguard Group Inc. lifted its holdings in Ardmore Shipping by 51.0% during the 1st quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock worth $8,885,000 after purchasing an additional 182,650 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ardmore Shipping by 58.9% during the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company’s stock worth $2,372,000 after buying an additional 48,598 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Ardmore Shipping in the third quarter valued at about $1,164,000. Foundry Partners LLC boosted its position in shares of Ardmore Shipping by 217.5% in the third quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock valued at $10,232,000 after acquiring an additional 387,240 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Ardmore Shipping by 27.4% in 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 in the last quarter. Institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Stock Down 2.3 %

Shares of ASC opened at $11.21 on Friday. The firm has a 50 day simple moving average of $13.87 and a two-hundred day simple moving average of $17.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.57 and a quick ratio of 3.26. Ardmore Shipping Co. has a one year low of $10.86 and a one year high of $23.44. The company has a market cap of $469.05 million, a P/E ratio of 3.14 and a beta of 0.31.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 6.42%. Ardmore Shipping’s dividend payout ratio is currently 20.17%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ASC shares. Fearnley Fonds upgraded shares of Ardmore Shipping to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus cut Ardmore Shipping from a “buy” rating to a “hold” rating and cut their price target for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group cut their target price 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.