Steph & Co. Sells 3,127 Shares of Ashland Inc. (NYSE:ASH)

Steph & Co. lessened its holdings in Ashland Inc. (NYSE:ASH) by 78.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 878 shares of the basic materials company’s stock after selling 3,127 shares during the quarter. Steph & Co.’s holdings in Ashland were worth $74,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ASH. Global Retirement Partners LLC bought a new stake in shares of Ashland in the 4th quarter worth about $28,000. Quarry LP acquired a new position in Ashland during the 2nd quarter valued at about $31,000. Covestor Ltd lifted its position in Ashland by 338.0% during the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 311 shares during the period. KB Financial Partners LLC acquired a new position in Ashland during the 1st quarter valued at about $35,000. Finally, Dark Forest Capital Management LP acquired a new position in Ashland during the 1st quarter valued at about $44,000. Institutional investors own 93.95% of the company’s stock.

Ashland Stock Up 0.6 %

ASH stock opened at $94.49 on Thursday. The company has a market cap of $4.73 billion, a PE ratio of 30.78 and a beta of 0.92. The company has a quick ratio of 1.88, a current ratio of 3.30 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $94.75 and a 200 day simple moving average of $85.44. Ashland Inc. has a 52 week low of $70.82 and a 52 week high of $104.92.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.24. The company had revenue of $473.00 million for the quarter, compared to analyst estimates of $478.69 million. Ashland had a return on equity of 5.95% and a net margin of 7.62%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. Sell-side analysts anticipate that Ashland Inc. will post 4.33 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 1.63%. The ex-dividend date was Thursday, February 29th. Ashland’s dividend payout ratio (DPR) is presently 50.49%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ASH. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and upped their target price for the company from $100.00 to $126.00 in a research report on Thursday, March 14th. Wells Fargo & Company upgraded shares of Ashland from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $100.00 to $112.00 in a research report on Thursday, April 11th. StockNews.com upgraded shares of Ashland from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Wolfe Research assumed coverage on shares of Ashland in a research report on Friday, March 1st. They issued an “outperform” rating and a $108.00 price target on the stock. Finally, TheStreet upgraded shares of Ashland from a “c+” rating to a “b-” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Ashland currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

About Ashland

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.