Y Intercept Hong Kong Ltd Acquires 4,567 Shares of Ardmore Shipping Co. (NYSE:ASC)

Y Intercept Hong Kong Ltd raised its holdings in Ardmore Shipping Co. (NYSE:ASC) by 13.9% in the third quarter, HoldingsChannel.com reports. The firm owned 37,490 shares of the shipping company’s stock after purchasing an additional 4,567 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ardmore Shipping were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of Ardmore Shipping during the 3rd quarter worth approximately $612,000. State Street Corp lifted its holdings in shares of Ardmore Shipping by 0.4% during the 3rd quarter. State Street Corp now owns 782,368 shares of the shipping company’s stock worth $14,161,000 after acquiring an additional 2,922 shares during the period. Quarry LP lifted its holdings in shares of Ardmore Shipping by 829.0% during the 3rd quarter. Quarry LP now owns 3,558 shares of the shipping company’s stock worth $64,000 after acquiring an additional 3,175 shares during the period. Petrus Trust Company LTA bought a new stake in shares of Ardmore Shipping during the 3rd quarter worth approximately $741,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Ardmore Shipping by 86.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 16,943 shares of the shipping company’s stock worth $307,000 after acquiring an additional 7,843 shares during the period. Institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Price Performance

Shares of NYSE:ASC opened at $11.35 on Friday. The company has a market cap of $474.88 million, a price-to-earnings ratio of 3.18 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.57 and a quick ratio of 3.26. The firm has a 50 day simple moving average of $13.59 and a 200 day simple moving average of $17.74. Ardmore Shipping Co. has a one year low of $10.86 and a one year high of $23.44.

Ardmore Shipping Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend was Friday, November 29th. Ardmore Shipping’s dividend payout ratio (DPR) is currently 20.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ASC. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. StockNews.com downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Jefferies Financial Group dropped their price objective on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating and dropped their price objective for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.