Ardmore Shipping Co. (NYSE:ASC) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Ardmore Shipping Co. (NYSE:ASC) by 301.1% in the 3rd quarter, Holdings Channel reports. The fund owned 58,431 shares of the shipping company’s stock after purchasing an additional 43,862 shares during the period. Barclays PLC’s holdings in Ardmore Shipping were worth $1,058,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ASC. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ardmore Shipping in the second quarter valued at $29,000. Private Trust Co. NA acquired a new position in Ardmore Shipping in the 3rd quarter worth $31,000. Nisa Investment Advisors LLC lifted its holdings in Ardmore Shipping by 2,906.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company’s stock worth $54,000 after buying an additional 2,906 shares in the last quarter. Quarry LP boosted its position in Ardmore Shipping by 829.0% in the 3rd quarter. Quarry LP now owns 3,558 shares of the shipping company’s stock valued at $64,000 after buying an additional 3,175 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Ardmore Shipping during the second quarter valued at about $72,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ASC shares. Fearnley Fonds upgraded Ardmore Shipping to a “hold” rating in a research note on Friday, September 27th. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Jefferies Financial Group decreased their price target on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of 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 report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.00.

Ardmore Shipping Stock Down 3.8 %

Shares of Ardmore Shipping stock opened at $13.09 on Wednesday. The business has a 50-day moving average price of $11.95 and a 200 day moving average price of $16.16. Ardmore Shipping Co. has a fifty-two week low of $10.86 and a fifty-two week high of $23.44. The firm has a market cap of $547.71 million, a P/E ratio of 3.67 and a beta of 0.28. 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 Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.50%. Ardmore Shipping’s dividend payout ratio (DPR) is 20.17%.

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.