Empowered Funds LLC Buys 10,586 Shares of Ardmore Shipping Co. (NYSE:ASC)

Empowered Funds LLC increased its stake in Ardmore Shipping Co. (NYSE:ASC) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 207,875 shares of the shipping company’s stock after purchasing an additional 10,586 shares during the period. Empowered Funds LLC owned approximately 0.50% of Ardmore Shipping worth $3,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Ardmore Shipping by 72.7% during the second quarter. CWM LLC now owns 2,110 shares of the shipping company’s stock worth $48,000 after buying an additional 888 shares during the period. Fortitude Family Office LLC grew its stake in shares of Ardmore Shipping by 322.0% during the 2nd quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company’s stock worth $28,000 after acquiring an additional 953 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of Ardmore Shipping by 5.8% in the second quarter. Simplicity Wealth LLC now owns 22,248 shares of the shipping company’s stock valued at $501,000 after purchasing an additional 1,212 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ardmore Shipping in the second quarter worth $29,000. Finally, Larson Financial Group LLC acquired a new position in Ardmore Shipping during the second quarter worth $34,000. Institutional investors own 62.22% of the company’s stock.

Analyst Ratings Changes

ASC has been the topic of several analyst reports. StockNews.com cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Stifel Nicolaus cut 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 lowered their price target on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Evercore ISI increased their price objective on Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Fearnley Fonds upgraded shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Ardmore Shipping has a consensus rating of “Hold” and an average target price of $20.00.

Ardmore Shipping Trading Up 1.4 %

Ardmore Shipping stock opened at $11.94 on Tuesday. 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 stock has a 50-day simple moving average of $16.04 and a 200 day simple moving average of $19.06. The stock has a market capitalization of $499.38 million, a P/E ratio of 3.30 and a beta of 0.37. Ardmore Shipping Co. has a 52 week low of $11.59 and a 52 week high of $23.44.

Ardmore Shipping Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date is Friday, November 29th. Ardmore Shipping’s payout ratio is presently 20.17%.

Ardmore Shipping Company 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.