10,261 Shares in Ardmore Shipping Co. (NYSE:ASC) Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC acquired a new position in Ardmore Shipping Co. (NYSE:ASC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,261 shares of the shipping company’s stock, valued at approximately $125,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardmore Shipping during the second quarter valued at approximately $29,000. Charles Schwab Investment Management Inc. grew its position in Ardmore Shipping by 1.3% during the third 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 last quarter. Franklin Resources Inc. grew its position in Ardmore Shipping by 3.0% during the third quarter. Franklin Resources Inc. now owns 44,482 shares of the shipping company’s stock valued at $769,000 after acquiring an additional 1,304 shares during the last quarter. GAMMA Investing LLC grew its position in Ardmore Shipping by 261.1% during the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 1,530 shares during the last quarter. Finally, Private Trust Co. NA bought a new position in Ardmore Shipping during the third quarter valued at approximately $31,000. 62.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ASC has been the topic of a number of recent research reports. Stifel Nicolaus cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating and reduced their price target for the company from $24.00 to $17.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group dropped their price objective on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.00.

Ardmore Shipping Stock Performance

NYSE:ASC opened at $11.14 on Wednesday. The firm has a market cap of $466.26 million, a PE ratio of 3.12 and a beta of 0.28. Ardmore Shipping Co. has a fifty-two week low of $10.86 and a fifty-two week high of $23.44. 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 business has a 50 day moving average price of $11.88 and a 200-day moving average price of $15.57.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 6.46%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s dividend payout ratio (DPR) is currently 20.17%.

Ardmore Shipping 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.