ExodusPoint Capital Management LP Makes New $5.62 Million Investment in Ashland Inc. (NYSE:ASH)

ExodusPoint Capital Management LP bought a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 78,638 shares of the basic materials company's stock, valued at approximately $5,619,000. ExodusPoint Capital Management LP owned about 0.17% of Ashland as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ashland by 138.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company's stock worth $10,501,000 after buying an additional 70,145 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ashland in the third quarter valued at $72,000. Benjamin Edwards Inc. increased its position in shares of Ashland by 62,666.7% during the third quarter. Benjamin Edwards Inc. now owns 3,766 shares of the basic materials company's stock worth $328,000 after purchasing an additional 3,760 shares in the last quarter. Quarry LP lifted its stake in Ashland by 176.9% in the third quarter. Quarry LP now owns 1,498 shares of the basic materials company's stock valued at $130,000 after buying an additional 957 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Ashland by 1.3% in the third quarter. Stifel Financial Corp now owns 36,943 shares of the basic materials company's stock valued at $3,213,000 after acquiring an additional 486 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ashland

In other news, CEO Guillermo Novo acquired 31,294 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, the chief executive officer now owns 31,294 shares of the company's stock, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% of the company's stock.

Ashland Stock Down 7.7 %

NYSE:ASH traded down $3.99 on Thursday, hitting $47.77. 212,886 shares of the company's stock traded hands, compared to its average volume of 503,440. The firm has a 50-day moving average price of $59.14 and a 200-day moving average price of $71.33. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.25 billion, a PE ratio of -72.39, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last announced its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts anticipate that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, February 28th. Ashland's dividend payout ratio (DPR) is currently -245.45%.

Analyst Ratings Changes

A number of analysts recently commented on ASH shares. Wells Fargo & Company decreased their price objective on shares of Ashland from $69.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group decreased their price target on Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. BMO Capital Markets lifted their target price on Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Ashland from a "neutral" rating to an "overweight" rating and raised their price target for the company from $68.00 to $71.00 in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.20.

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.