Barclays PLC Boosts Stock Position in Ardmore Shipping Co. (NYSE:ASC)

Barclays PLC boosted its holdings in shares of Ardmore Shipping Co. (NYSE:ASC) by 301.1% during the third quarter, Holdings Channel.com reports. The firm owned 58,431 shares of the shipping company’s stock after acquiring an additional 43,862 shares during the period. Barclays PLC’s holdings in Ardmore Shipping were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Ardmore Shipping by 12.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 131,120 shares of the shipping company’s stock valued at $2,954,000 after buying an additional 14,147 shares in the last quarter. Principal Financial Group Inc. increased its stake in Ardmore Shipping by 8.2% during the second quarter. Principal Financial Group Inc. now owns 24,802 shares of the shipping company’s stock worth $559,000 after acquiring an additional 1,877 shares during the last quarter. nVerses Capital LLC bought a new stake in Ardmore Shipping during the second quarter worth approximately $47,000. Rhumbline Advisers increased its stake in Ardmore Shipping by 2.5% during the second quarter. Rhumbline Advisers now owns 110,808 shares of the shipping company’s stock worth $2,496,000 after acquiring an additional 2,744 shares during the last quarter. Finally, LMG Wealth Partners LLC increased its stake in Ardmore Shipping by 4.6% during the second quarter. LMG Wealth Partners LLC now owns 73,591 shares of the shipping company’s stock worth $1,658,000 after acquiring an additional 3,254 shares during the last quarter. Institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Stock Up 0.2 %

Shares of Ardmore Shipping stock opened at $12.01 on Tuesday. Ardmore Shipping Co. has a 52-week low of $10.86 and a 52-week high of $23.44. The firm’s 50 day moving average price is $12.36 and its 200-day moving average price is $16.88. The company has a quick ratio of 3.26, a current ratio of 3.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $502.52 million, a P/E ratio of 3.36 and a beta of 0.31.

Ardmore Shipping Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 6.00%. Ardmore Shipping’s payout ratio is currently 20.17%.

Wall Street Analyst Weigh In

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