Auxano Advisors LLC Makes New Investment in Ashland Inc. (NYSE:ASH)

Auxano Advisors LLC purchased a new position in shares of Ashland Inc. (NYSE:ASH) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,707 shares of the basic materials company’s stock, valued at approximately $818,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Ashland by 139.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,414,765 shares of the basic materials company’s stock valued at $115,558,000 after buying an additional 824,600 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ashland by 33.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,260,333 shares of the basic materials company’s stock worth $184,624,000 after purchasing an additional 560,916 shares during the period. Atlantic Investment Management Inc. purchased a new position in shares of Ashland in the 3rd quarter worth about $22,880,000. Diamond Hill Capital Management Inc. grew its position in Ashland by 14.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,953,015 shares of the basic materials company’s stock valued at $159,522,000 after buying an additional 248,591 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in Ashland by 157.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 198,064 shares of the basic materials company’s stock valued at $16,699,000 after acquiring an additional 121,161 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Price Performance

Shares of ASH traded down $1.69 during midday trading on Tuesday, reaching $95.33. The stock had a trading volume of 370,589 shares, compared to its average volume of 443,958. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 31.81 and a beta of 0.92. The company has a current ratio of 3.30, a quick ratio of 1.88 and a debt-to-equity ratio of 0.44. Ashland Inc. has a 12-month low of $70.82 and a 12-month high of $101.94. The company’s 50-day moving average is $95.42 and its 200 day moving average is $86.47.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and raised their price target for the stock from $100.00 to $126.00 in a research note on Thursday, March 14th. Wells Fargo & Company upgraded shares of Ashland from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $100.00 to $112.00 in a research report on Thursday, April 11th. Wolfe Research assumed coverage on shares of Ashland in a research note on Friday, March 1st. They issued an “outperform” rating and a $108.00 price objective for the company. StockNews.com upgraded Ashland from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on Ashland from $70.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Ashland Company Profile

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.