Barclays PLC Has $1.06 Million Position in Ardmore Shipping Co. (NYSE:ASC)

Barclays PLC lifted its stake in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 301.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,431 shares of the shipping company's stock after purchasing an additional 43,862 shares during the quarter. Barclays PLC owned 0.14% of Ardmore Shipping worth $1,058,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ardmore Shipping during the second quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in shares of Ardmore Shipping during the 2nd quarter worth $34,000. Private Trust Co. NA bought a new stake in shares of Ardmore Shipping during the 3rd quarter worth $31,000. nVerses Capital LLC acquired a new stake in Ardmore Shipping in the second quarter valued at about $47,000. Finally, Nisa Investment Advisors LLC grew its position in Ardmore Shipping by 2,906.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company's stock valued at $54,000 after acquiring an additional 2,906 shares during the last quarter. Institutional investors own 62.22% of the company's stock.

Analysts Set New Price Targets

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

Ardmore Shipping Trading Up 1.2 %

NYSE ASC traded up $0.14 during trading hours on Tuesday, reaching $12.15. The company's stock had a trading volume of 525,151 shares, compared to its average volume of 683,487. Ardmore Shipping Co. has a 52 week low of $10.86 and a 52 week high of $23.44. 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 stock has a market cap of $508.38 million, a P/E ratio of 3.40 and a beta of 0.31. The firm has a fifty day simple moving average of $12.28 and a 200-day simple moving average of $16.82.

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 issued a dividend of $0.18 per share. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.93%. Ardmore Shipping's dividend payout ratio (DPR) is presently 20.17%.

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.