Robeco Institutional Asset Management B.V. Buys Shares of 44,121 Ardmore Shipping Co. (NYSE:ASC)

Robeco Institutional Asset Management B.V. purchased a new position in Ardmore Shipping Co. (NYSE:ASC - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 44,121 shares of the shipping company's stock, valued at approximately $799,000. Robeco Institutional Asset Management B.V. owned 0.11% of Ardmore Shipping at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norden Group LLC purchased a new position in Ardmore Shipping during the first quarter worth about $166,000. BNP Paribas Financial Markets increased its position in shares of Ardmore Shipping by 83.9% in the 1st quarter. BNP Paribas Financial Markets now owns 20,440 shares of the shipping company's stock valued at $336,000 after purchasing an additional 9,325 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Ardmore Shipping during the first quarter worth approximately $459,000. LSV Asset Management acquired a new position in Ardmore Shipping in the first quarter valued at $714,000. Finally, Empowered Funds LLC grew its stake in Ardmore Shipping by 8.2% during the 1st quarter. Empowered Funds LLC now owns 183,069 shares of the shipping company's stock worth $3,006,000 after buying an additional 13,825 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company's stock.

Ardmore Shipping Stock Performance

NYSE ASC traded up $0.10 during trading hours on Monday, hitting $12.25. 1,767,351 shares of the stock were exchanged, compared to its average volume of 641,506. Ardmore Shipping Co. has a 12-month low of $11.92 and a 12-month high of $23.44. The stock has a 50-day moving average of $16.62 and a 200 day moving average of $19.23. The company has a market cap of $512.54 million, a price-to-earnings ratio of 3.43 and a beta of 0.37. The company has a quick ratio of 3.18, a current ratio of 3.57 and a debt-to-equity ratio of 0.03.

Ardmore Shipping Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.88%. Ardmore Shipping's dividend payout ratio (DPR) is presently 42.58%.

Analysts Set New Price Targets

ASC has been the subject of several research reports. Evercore ISI upped their price target on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Stifel Nicolaus cut shares of Ardmore Shipping from a "buy" rating to a "hold" rating and reduced their target price for the company from $24.00 to $17.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. StockNews.com downgraded Ardmore Shipping from a "buy" rating to a "hold" rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group boosted their target price on Ardmore Shipping from $21.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.33.

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.