Petrus Trust Company LTA Buys Shares of 40,962 Ardmore Shipping Co. (NYSE:ASC)

Petrus Trust Company LTA purchased a new position in Ardmore Shipping Co. (NYSE:ASC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,962 shares of the shipping company’s stock, valued at approximately $741,000. Petrus Trust Company LTA owned approximately 0.10% of Ardmore Shipping at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ASC. Vanguard Group Inc. boosted its stake in shares of Ardmore Shipping by 51.0% during the 1st quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company’s stock valued at $8,885,000 after buying an additional 182,650 shares during the period. Victory Capital Management Inc. raised 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 acquiring an additional 48,598 shares in the last quarter. SG Americas Securities LLC boosted its position in Ardmore Shipping by 82.7% during the second quarter. SG Americas Securities LLC now owns 241,455 shares of the shipping company’s stock valued at $5,440,000 after purchasing an additional 109,312 shares during the last quarter. American Century Companies Inc. grew its stake in 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 purchasing an additional 241,748 shares in the last quarter. Finally, Foundry Partners LLC grew its stake in 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 purchasing an additional 387,240 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Trading Up 3.2 %

Shares of ASC stock opened at $11.53 on Wednesday. The business’s 50 day moving average is $14.66 and its two-hundred day moving average is $18.35. 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. The company has a market cap of $482.21 million, a PE ratio of 3.23 and a beta of 0.31.

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 issued a $0.18 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 6.25%. Ardmore Shipping’s dividend payout ratio (DPR) is presently 20.17%.

Wall Street Analyst Weigh In

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