Ardmore Shipping Co. (NYSE:ASC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Ardmore Shipping Co. (NYSE:ASC) by 58.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 131,073 shares of the shipping company’s stock after acquiring an additional 48,598 shares during the period. Victory Capital Management Inc. owned 0.31% of Ardmore Shipping worth $2,372,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in Ardmore Shipping by 322.0% in the 2nd quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company’s stock valued at $28,000 after buying an additional 953 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ardmore Shipping during the second quarter worth approximately $29,000. Larson Financial Group LLC acquired a new position in shares of Ardmore Shipping in the 2nd quarter valued at $34,000. nVerses Capital LLC purchased a new stake in shares of Ardmore Shipping during the 2nd quarter valued at $47,000. Finally, CWM LLC increased its stake in Ardmore Shipping by 72.7% during the second quarter. CWM LLC now owns 2,110 shares of the shipping company’s stock worth $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 Stock Down 0.3 %

Shares of NYSE:ASC opened at $11.85 on Monday. The company has a 50 day moving average of $15.53 and a two-hundred day moving average of $18.85. Ardmore Shipping Co. has a 52-week low of $11.59 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. The company has a market capitalization of $495.80 million, a price-to-earnings ratio of 3.32 and a beta of 0.37.

Ardmore Shipping Cuts Dividend

The firm 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Friday, November 29th. Ardmore Shipping’s payout ratio is 42.58%.

Wall Street Analysts Forecast Growth

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