Quantbot Technologies LP Buys Shares of 51,139 Ardmore Shipping Corporation $ASC

Quantbot Technologies LP purchased a new position in Ardmore Shipping Corporation (NYSE:ASC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 51,139 shares of the shipping company’s stock, valued at approximately $607,000.

A number of other institutional investors have also modified their holdings of ASC. AQR Capital Management LLC boosted its stake in shares of Ardmore Shipping by 31.2% in the first quarter. AQR Capital Management LLC now owns 77,769 shares of the shipping company’s stock valued at $761,000 after purchasing an additional 18,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ardmore Shipping by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company’s stock valued at $242,000 after purchasing an additional 1,102 shares during the period. Empowered Funds LLC raised its stake in shares of Ardmore Shipping by 7.5% during the first quarter. Empowered Funds LLC now owns 234,987 shares of the shipping company’s stock valued at $2,301,000 after purchasing an additional 16,458 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Ardmore Shipping during the second quarter worth approximately $434,000. Finally, CSM Advisors LLC bought a new stake in Ardmore Shipping in the second quarter worth about $1,527,000. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ardmore Shipping Price Performance

Shares of ASC stock opened at $15.96 on Monday. 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 market capitalization of $648.25 million, a P/E ratio of 17.93 and a beta of -0.16. Ardmore Shipping Corporation has a 12 month low of $8.32 and a 12 month high of $16.91. 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 (NYSE:ASC) last announced its quarterly earnings results on Thursday, February 12th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%.The business had revenue of $82.91 million for the quarter, compared to analyst estimates of $51.00 million. As a group, equities analysts expect that Ardmore Shipping Corporation will post 1.06 EPS for the current year.

Ardmore Shipping Cuts Dividend

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

Ardmore Shipping 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.