Invst LLC Increases Holdings in Ardmore Shipping Co. (NYSE:ASC)

Invst LLC increased its position in Ardmore Shipping Co. (NYSE:ASC) by 15.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,688 shares of the shipping company’s stock after buying an additional 5,146 shares during the quarter. Invst LLC owned 0.09% of Ardmore Shipping worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ardmore Shipping in the 2nd quarter valued at $29,000. Larson Financial Group LLC bought a new stake in Ardmore Shipping in the second quarter worth $34,000. Private Trust Co. NA bought a new position in shares of Ardmore Shipping during the third quarter valued at about $31,000. nVerses Capital LLC bought a new position in shares of Ardmore Shipping during the second quarter valued at about $47,000. Finally, CWM LLC lifted its stake in shares of Ardmore Shipping by 72.7% in the 2nd quarter. CWM LLC now owns 2,110 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 888 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Price Performance

Shares of Ardmore Shipping stock opened at $11.84 on Wednesday. The company has a market cap of $495.39 million, a PE ratio of 3.32 and a beta of 0.31. The business has a 50 day moving average of $14.14 and a 200 day moving average of $18.03. Ardmore Shipping Co. has a 52 week low of $10.86 and a 52 week high of $23.44. 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.18 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 6.08%. Ardmore Shipping’s dividend payout ratio is 20.17%.

Analysts Set New Price Targets

A number of equities analysts have commented on ASC shares. Jefferies Financial Group decreased their price target 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 lowered 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. StockNews.com lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a research note on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

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.