Quantinno Capital Management LP Has $2.82 Million Stock Position in Ardmore Shipping Corporation $ASC

Quantinno Capital Management LP grew its holdings in Ardmore Shipping Corporation (NYSE:ASC) by 43.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,844 shares of the shipping company’s stock after purchasing an additional 55,888 shares during the period. Quantinno Capital Management LP owned about 0.45% of Ardmore Shipping worth $2,819,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ASC. Cetera Investment Advisers boosted its holdings in Ardmore Shipping by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 18,219 shares of the shipping company’s stock worth $193,000 after purchasing an additional 985 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ardmore Shipping by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company’s stock valued at $242,000 after buying an additional 1,102 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Ardmore Shipping by 0.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 361,658 shares of the shipping company’s stock worth $3,830,000 after buying an additional 1,580 shares in the last quarter. Glenorchy Capital Ltd boosted its stake in shares of Ardmore Shipping by 1.3% during the 4th quarter. Glenorchy Capital Ltd now owns 127,072 shares of the shipping company’s stock worth $1,346,000 after buying an additional 1,582 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Ardmore Shipping by 2.7% in the 4th quarter. Boston Partners now owns 63,864 shares of the shipping company’s stock valued at $676,000 after acquiring an additional 1,707 shares in the last quarter. Institutional investors own 62.22% of the company’s stock.

Insiders Place Their Bets

In other Ardmore Shipping news, Director Curtis B. Mcwilliams sold 16,277 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.38, for a total transaction of $315,448.26. Following the completion of the sale, the director owned 60,673 shares of the company’s stock, valued at $1,175,842.74. This trade represents a 21.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kirsi Tikka sold 12,000 shares of Ardmore Shipping stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $18.93, for a total transaction of $227,160.00. Following the transaction, the director directly owned 35,471 shares of the company’s stock, valued at approximately $671,466.03. This trade represents a 25.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,000 shares of company stock worth $613,488.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings raised Ardmore Shipping from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Wall Street Zen downgraded Ardmore Shipping from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Evercore set a $19.00 target price on shares of Ardmore Shipping in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Ardmore Shipping has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Ardmore Shipping Price Performance

Shares of NYSE ASC opened at $16.74 on Monday. The business’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $15.80. The company has a market cap of $681.70 million, a PE ratio of 6.46 and a beta of 0.03. The company has a quick ratio of 4.84, a current ratio of 5.45 and a debt-to-equity ratio of 0.05. Ardmore Shipping Corporation has a twelve month low of $10.17 and a twelve month high of $20.02.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.07. Ardmore Shipping had a return on equity of 15.24% and a net margin of 29.67%.The firm had revenue of $116.21 million for the quarter, compared to analyst estimates of $86.30 million.

Ardmore Shipping Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 28th will be paid a $0.79 dividend. This is a boost from Ardmore Shipping’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 28th. This represents a $3.16 dividend on an annualized basis and a yield of 18.9%. Ardmore Shipping’s dividend payout ratio (DPR) is currently 60.23%.

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.