Ardmore Shipping Co. (NYSE:ASC) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in Ardmore Shipping Co. (NYSE:ASC) by 10.1% during the third quarter, Holdings Channel reports. The institutional investor owned 22,204 shares of the shipping company’s stock after buying an additional 2,041 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ardmore Shipping were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in Ardmore Shipping by 58.9% in the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company’s stock worth $2,372,000 after acquiring an additional 48,598 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Ardmore Shipping during the 3rd quarter valued at about $1,164,000. Foundry Partners LLC grew its stake in shares of 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 purchasing an additional 387,240 shares during the last quarter. American Century Companies Inc. lifted its stake 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 purchasing an additional 241,748 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Ardmore Shipping during the third quarter valued at approximately $799,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Price Performance

ASC opened at $11.97 on Friday. The firm has a market capitalization of $500.85 million, a P/E ratio of 3.35 and a beta of 0.31. The stock has a fifty day moving average of $12.54 and a 200-day moving average of $17.10. The company has a quick ratio of 3.26, a current ratio of 3.57 and a debt-to-equity ratio of 0.03. Ardmore Shipping Co. has a 12-month low of $10.86 and a 12-month high of $23.44.

Ardmore Shipping Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.18 per share. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 6.02%. Ardmore Shipping’s payout ratio is presently 20.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut their price objective 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. Stifel Nicolaus downgraded Ardmore Shipping from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $17.00 in a report on Wednesday, October 23rd. Fearnley Fonds upgraded Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a report 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, Ardmore Shipping has an average rating of “Hold” and a consensus target price of $20.00.

Ardmore Shipping Company 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.