Ardmore Shipping Co. (NYSE:ASC) Stock Holdings Increased by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its position in shares of Ardmore Shipping Co. (NYSE:ASC) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,204 shares of the shipping company’s stock after buying an additional 2,041 shares during the period. Sanctuary Advisors LLC owned about 0.05% of Ardmore Shipping worth $402,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Ardmore Shipping by 47.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,400,981 shares of the shipping company’s stock valued at $31,564,000 after acquiring an additional 449,200 shares in the last quarter. American Century Companies Inc. increased its stake in Ardmore Shipping by 27.4% during 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 during the last quarter. State Street Corp raised its holdings in shares of Ardmore Shipping by 0.4% during the third quarter. State Street Corp now owns 782,368 shares of the shipping company’s stock worth $14,161,000 after purchasing an additional 2,922 shares during the period. Foundry Partners LLC lifted its position in shares of Ardmore Shipping by 217.5% in the 3rd quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock worth $10,232,000 after buying an additional 387,240 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Ardmore Shipping by 135.1% in the 2nd quarter. Acadian Asset Management LLC now owns 308,200 shares of the shipping company’s stock valued at $6,936,000 after buying an additional 177,130 shares during the period. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Stock Performance

Shares of NYSE ASC opened at $11.97 on Friday. 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 $500.85 million, a PE ratio of 3.35 and a beta of 0.31. The stock has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $17.10. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03.

Ardmore Shipping Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 6.02%. Ardmore Shipping’s payout ratio is 20.17%.

Analysts Set New Price Targets

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