Alliancebernstein L.P. Has $4.06 Million Position in Ashland Inc. (NYSE:ASH)

Alliancebernstein L.P. trimmed its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 26.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,832 shares of the basic materials company's stock after selling 20,147 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of Ashland worth $4,061,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in Ashland by 105.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company's stock valued at $8,513,000 after buying an additional 61,058 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ashland by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company's stock worth $36,964,000 after purchasing an additional 7,709 shares during the period. JPMorgan Chase & Co. raised its holdings in Ashland by 66.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company's stock worth $14,752,000 after purchasing an additional 67,980 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Ashland by 703.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company's stock valued at $13,206,000 after purchasing an additional 161,812 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Ashland by 29.8% in the 4th quarter. American Century Companies Inc. now owns 171,636 shares of the basic materials company's stock valued at $12,265,000 after purchasing an additional 39,392 shares during the last quarter. 93.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ASH. Seaport Res Ptn lowered shares of Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upgraded Ashland from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. UBS Group cut their target price on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company decreased their target price on Ashland from $69.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, StockNews.com downgraded shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Ashland currently has a consensus rating of "Moderate Buy" and an average target price of $73.20.

Insider Activity

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

Ashland Stock Up 1.8 %

Shares of NYSE:ASH traded up $0.90 during trading on Friday, hitting $50.45. 404,331 shares of the company's stock traded hands, compared to its average volume of 510,449. The company has a 50-day moving average price of $57.20 and a 200-day moving average price of $69.67. Ashland Inc. has a 52 week low of $45.21 and a 52 week high of $102.50. 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 $2.38 billion, a price-to-earnings ratio of -76.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70.

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

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, February 28th. Ashland's dividend payout ratio is -245.45%.

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.