Ashland Inc. (NYSE:ASH) Position Increased by Taurus Asset Management LLC

Taurus Asset Management LLC raised its holdings in Ashland Inc. (NYSE:ASHFree Report) by 8.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,138 shares of the basic materials company’s stock after buying an additional 7,300 shares during the quarter. Taurus Asset Management LLC owned 0.18% of Ashland worth $7,608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASH. Principal Financial Group Inc. grew its stake in shares of Ashland by 3.4% in the third quarter. Principal Financial Group Inc. now owns 188,767 shares of the basic materials company’s stock worth $15,418,000 after acquiring an additional 6,246 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Ashland by 25.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,267 shares of the basic materials company’s stock worth $632,000 after purchasing an additional 1,465 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ashland by 4.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,481 shares of the basic materials company’s stock valued at $2,041,000 after buying an additional 992 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Ashland by 124.3% in the third quarter. Equitable Trust Co. now owns 6,368 shares of the basic materials company’s stock valued at $520,000 after buying an additional 3,529 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in Ashland during the third quarter worth about $1,111,000. Institutional investors and hedge funds own 90.08% of the company’s stock.

Insider Buying and Selling at Ashland

In other news, insider Eric N. Boni sold 843 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $82.38, for a total transaction of $69,446.34. Following the sale, the insider now owns 13,072 shares in the company, valued at $1,076,871.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Ashland Stock Down 0.6 %

Shares of NYSE:ASH opened at $90.83 on Monday. The company’s fifty day moving average is $83.85 and its 200-day moving average is $82.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.88 and a current ratio of 3.30. Ashland Inc. has a 52 week low of $70.82 and a 52 week high of $105.82. The company has a market capitalization of $4.55 billion, a PE ratio of 29.78 and a beta of 0.93.

Ashland (NYSE:ASHGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.24. The firm had revenue of $473.00 million for the quarter, compared to analyst estimates of $478.69 million. Ashland had a net margin of 7.62% and a return on equity of 5.95%. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. Equities research analysts predict that Ashland Inc. will post 4.33 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.385 per share. The ex-dividend date is Thursday, February 29th. This represents a $1.54 dividend on an annualized basis and a yield of 1.70%. Ashland’s dividend payout ratio is 50.49%.

Analyst Upgrades and Downgrades

Several research firms have commented on ASH. BMO Capital Markets cut their price target on Ashland from $84.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, November 15th. JPMorgan Chase & Co. raised their target price on Ashland from $70.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. UBS Group lowered their price target on shares of Ashland from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Stifel Nicolaus reduced their price objective on shares of Ashland from $110.00 to $96.00 and set a “buy” rating for the company in a report on Monday, November 13th. Finally, Wells Fargo & Company lifted their target price on shares of Ashland from $80.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ashland has a consensus rating of “Hold” and a consensus price target of $94.71.

View Our Latest Report on ASH

Ashland Company Profile

(Free Report)

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.

See Also

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Institutional Ownership by Quarter for Ashland (NYSE:ASH)

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