Strs Ohio Raises Stake in Ashland Inc. (ASH)
Strs Ohio increased its stake in Ashland Inc. (NYSE:ASH) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,914 shares of the company’s stock after buying an additional 1,702 shares during the period. Strs Ohio owned 0.17% of Ashland worth $11,926,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ASH. IFP Advisors Inc boosted its stake in Ashland by 1.4% in the first quarter. IFP Advisors Inc now owns 2,239 shares of the company’s stock valued at $246,000 after buying an additional 30 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Ashland by 1.3% in the second quarter. Capstone Asset Management Co. now owns 6,249 shares of the company’s stock valued at $717,000 after buying an additional 80 shares in the last quarter. Franklin Resources Inc. boosted its stake in Ashland by 1.1% in the first quarter. Franklin Resources Inc. now owns 19,160 shares of the company’s stock valued at $2,106,000 after buying an additional 200 shares in the last quarter. Oakbrook Investments LLC boosted its stake in Ashland by 12.3% in the second quarter. Oakbrook Investments LLC now owns 3,200 shares of the company’s stock valued at $367,000 after buying an additional 350 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Ashland by 3.4% in the first quarter. Envestnet Asset Management Inc. now owns 11,999 shares of the company’s stock valued at $1,319,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.
Ashland Inc. (NYSE:ASH) traded down 0.79% during trading on Friday, hitting $115.95. 1,048,284 shares of the stock were exchanged. The firm’s 50 day moving average price is $117.52 and its 200-day moving average price is $114.52. Ashland Inc. has a 1-year low of $88.30 and a 1-year high of $125.00.
Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by $0.09. Ashland had a net margin of 3.86% and a return on equity of 15.90%. The firm earned $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $1.91 EPS. Equities analysts expect that Ashland Inc. will post $6.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 19th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, August 17th. Ashland’s dividend payout ratio (DPR) is 51.32%.
Several analysts recently commented on the stock. Credit Suisse Group AG cut shares of Ashland from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $122.00 to $119.00 in a report on Thursday, July 28th. Jefferies Group restated a “buy” rating on shares of Ashland in a report on Thursday, August 4th. Finally, Zacks Investment Research cut shares of Ashland from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $125.75.
In other news, VP Anne T. Schumann sold 903 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $120.00, for a total value of $108,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.27% of the stock is currently owned by insiders.
Ashland Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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