Ardmore Shipping Co. (NYSE:ASC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its position in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 62.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,762 shares of the shipping company's stock after selling 58,368 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.08% of Ardmore Shipping worth $629,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. CWM LLC increased its stake in Ardmore Shipping by 72.7% in the second quarter. CWM LLC now owns 2,110 shares of the shipping company's stock valued at $48,000 after purchasing an additional 888 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ardmore Shipping during the second quarter worth about $29,000. Charles Schwab Investment Management Inc. increased its position in Ardmore Shipping by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,389 shares of the shipping company's stock valued at $1,799,000 after acquiring an additional 1,302 shares during the period. Larson Financial Group LLC purchased a new stake in Ardmore Shipping during the 2nd quarter valued at approximately $34,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Ardmore Shipping by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,934 shares of the shipping company's stock worth $196,000 after acquiring an additional 1,634 shares during the period. 62.22% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping Price Performance

ASC stock traded up $0.14 during trading on Friday, reaching $11.35. 651,376 shares of the company were exchanged, compared to its average volume of 679,732. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The stock's 50 day moving average price is $13.73 and its 200 day moving average price is $17.86. Ardmore Shipping Co. has a 52-week low of $10.86 and a 52-week high of $23.44. The company has a market cap of $474.88 million, a P/E ratio of 3.11 and a beta of 0.31.

Ardmore Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 6.34%. The ex-dividend date is Friday, November 29th. Ardmore Shipping's payout ratio is currently 20.17%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com lowered Ardmore Shipping from a "buy" rating to a "hold" rating in a report on Wednesday, September 25th. Jefferies Financial Group lowered their target price on shares of Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Fearnley Fonds raised shares of Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. Finally, Stifel Nicolaus lowered Ardmore Shipping from a "buy" rating to a "hold" rating and lowered their price objective for the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.