Tudor Investment Corp ET AL Takes Position in Ardmore Shipping Corporation $ASC

Tudor Investment Corp ET AL bought a new stake in shares of Ardmore Shipping Corporation (NYSE:ASC) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 98,571 shares of the shipping company’s stock, valued at approximately $1,170,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Ardmore Shipping by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 1,749,153 shares of the shipping company’s stock valued at $20,762,000 after acquiring an additional 106,497 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Ardmore Shipping during the 3rd quarter valued at approximately $864,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Ardmore Shipping during the 3rd quarter valued at approximately $475,000. Quantbot Technologies LP acquired a new stake in shares of Ardmore Shipping during the 3rd quarter valued at approximately $607,000. Finally, CSM Advisors LLC raised its position in shares of Ardmore Shipping by 43.2% during the 3rd quarter. CSM Advisors LLC now owns 228,057 shares of the shipping company’s stock valued at $2,708,000 after acquiring an additional 68,781 shares in the last quarter. 62.22% of the stock is currently owned by hedge funds and other institutional investors.

Ardmore Shipping Stock Performance

ASC stock opened at $15.72 on Tuesday. Ardmore Shipping Corporation has a 12-month low of $8.61 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. The stock’s 50 day simple moving average is $14.86 and its 200 day simple moving average is $12.92. The firm has a market cap of $640.45 million, a P/E ratio of 17.67 and a beta of -0.14.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Thursday, February 12th. The shipping company reported $0.28 earnings per share for the quarter, topping 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 firm had revenue of $82.91 million for the quarter, compared to analyst estimates of $51.00 million. As a group, equities research analysts predict that Ardmore Shipping Corporation will post 1.06 EPS for the current year.

Ardmore Shipping Cuts Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on ASC. Weiss Ratings reissued a “hold (c-)” rating on shares of Ardmore Shipping in a research report on Wednesday, December 24th. Wall Street Zen raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

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.