Quantbot Technologies LP Makes New Investment in Ardmore Shipping Corporation $ASC

Quantbot Technologies LP acquired a new position in Ardmore Shipping Corporation (NYSE:ASC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 51,139 shares of the shipping company’s stock, valued at approximately $607,000. Quantbot Technologies LP owned about 0.13% of Ardmore Shipping at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Ardmore Shipping during the second quarter worth about $38,000. EverSource Wealth Advisors LLC raised its position in Ardmore Shipping by 1,689.0% in the second quarter. EverSource Wealth Advisors LLC now owns 8,444 shares of the shipping company’s stock valued at $81,000 after purchasing an additional 7,972 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Ardmore Shipping by 536.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,737 shares of the shipping company’s stock valued at $84,000 after buying an additional 7,364 shares during the period. GAMMA Investing LLC lifted its position in shares of Ardmore Shipping by 14.8% during the third quarter. GAMMA Investing LLC now owns 7,241 shares of the shipping company’s stock worth $86,000 after purchasing an additional 931 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Ardmore Shipping during the 2nd quarter worth approximately $109,000. 62.22% of the stock is owned by hedge funds and other institutional investors.

Ardmore Shipping Price Performance

Shares of NYSE ASC opened at $15.96 on Monday. The stock has a market cap of $648.25 million, a P/E ratio of 17.93 and a beta of -0.16. The stock has a 50 day moving average of $13.05 and a two-hundred day moving average of $12.38. The company has a current ratio of 4.33, a quick ratio of 3.98 and a debt-to-equity ratio of 0.20. Ardmore Shipping Corporation has a twelve month low of $8.32 and a twelve month high of $16.91.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Thursday, February 12th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Ardmore Shipping had a net margin of 13.22% and a return on equity of 7.02%. The company had revenue of $82.91 million for the quarter, compared to the consensus estimate of $51.00 million. On average, research analysts forecast that Ardmore Shipping Corporation will post 1.06 earnings per share for the current year.

Ardmore Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. Ardmore Shipping’s dividend payout ratio (DPR) is 40.45%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ardmore Shipping in a research report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.00.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.