14,293 Shares in Ardmore Shipping Co. (NYSE:ASC) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of Ardmore Shipping Co. (NYSE:ASC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,293 shares of the shipping company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Ardmore Shipping by 72.7% in the second quarter. CWM LLC now owns 2,110 shares of the shipping company’s stock worth $48,000 after buying an additional 888 shares during the period. Simplicity Wealth LLC grew its holdings in shares of Ardmore Shipping by 5.8% in the second quarter. Simplicity Wealth LLC now owns 22,248 shares of the shipping company’s stock worth $501,000 after purchasing an additional 1,212 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ardmore Shipping in the 2nd quarter valued at about $29,000. Larson Financial Group LLC bought a new stake in shares of Ardmore Shipping during the second quarter valued at approximately $34,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Ardmore Shipping by 15.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,934 shares of the shipping company’s stock worth $196,000 after buying an additional 1,634 shares during the period. 62.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASC has been the topic of several recent research reports. Fearnley Fonds upgraded shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. StockNews.com downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their target price on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Stifel Nicolaus cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating and lowered 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 given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Ardmore Shipping Stock Up 1.8 %

NYSE:ASC opened at $11.42 on Friday. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. Ardmore Shipping Co. has a twelve month low of $10.86 and a twelve month high of $23.44. The company has a market cap of $477.60 million, a PE ratio of 3.20 and a beta of 0.31. The company’s 50 day moving average is $14.40 and its two-hundred day moving average is $18.25.

Ardmore Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 6.31%. Ardmore Shipping’s dividend payout ratio (DPR) is 20.17%.

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.