Barclays PLC Buys 43,862 Shares of Ardmore Shipping Co. (NYSE:ASC)

Barclays PLC lifted its holdings 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 filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,431 shares of the shipping company's stock after purchasing an additional 43,862 shares during the period. Barclays PLC owned 0.14% of Ardmore Shipping worth $1,058,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ASC. Rhumbline Advisers boosted its position in shares of Ardmore Shipping by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 110,808 shares of the shipping company's stock worth $2,496,000 after purchasing an additional 2,744 shares in the last quarter. American Century Companies Inc. raised its stake in Ardmore Shipping by 27.4% during the 2nd quarter. American Century Companies Inc. now owns 1,124,835 shares of the shipping company's stock worth $25,343,000 after buying an additional 241,748 shares during the period. WINTON GROUP Ltd bought a new position in Ardmore Shipping in the second quarter worth approximately $316,000. Massachusetts Financial Services Co. MA acquired a new stake in Ardmore Shipping in the second quarter valued at approximately $208,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Ardmore Shipping by 47.2% during the second 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. Institutional investors and hedge funds own 62.22% of the company's stock.

Ardmore Shipping Stock Performance

Shares of ASC traded up $0.18 on Wednesday, reaching $13.25. 440,423 shares of the company's stock traded hands, compared to its average volume of 780,597. The stock's 50 day simple moving average is $11.95 and its two-hundred day simple moving average is $16.16. The stock has a market cap of $554.41 million, a PE ratio of 3.71 and a beta of 0.28. Ardmore Shipping Co. has a 52-week low of $10.86 and a 52-week high of $23.44. 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 business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend was Friday, November 29th. Ardmore Shipping's dividend payout ratio (DPR) is currently 20.17%.

Analyst Ratings Changes

Several research firms recently issued reports on ASC. Stifel Nicolaus downgraded shares of Ardmore Shipping from a "buy" rating to a "hold" rating and reduced their price target for the company from $24.00 to $17.00 in a research report on Wednesday, October 23rd. StockNews.com cut shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a report on Wednesday, September 25th. Fearnley Fonds upgraded shares of Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. Finally, Jefferies Financial Group cut their price target on Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Three 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, Ardmore Shipping presently has an average rating of "Hold" and an average target price of $20.00.

About Ardmore Shipping

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.