Allspring Global Investments Holdings LLC decreased its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,721,417 shares of the basic materials company's stock after selling 16,321 shares during the quarter. Allspring Global Investments Holdings LLC owned about 3.65% of Ashland worth $120,062,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its holdings in Ashland by 105.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company's stock worth $8,513,000 after acquiring an additional 61,058 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Ashland during the 3rd quarter worth $3,134,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 acquiring an additional 70,145 shares during the last quarter. JPMorgan Chase & Co. boosted 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 acquiring an additional 67,980 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of 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 worth $13,206,000 after purchasing an additional 161,812 shares during the period. Institutional investors and hedge funds own 93.95% of the company's stock.
Ashland Trading Down 0.1 %
Shares of NYSE:ASH traded down $0.06 during trading on Friday, reaching $64.92. 528,369 shares of the company traded hands, compared to its average volume of 687,133. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -98.36, a P/E/G ratio of 1.14 and a beta of 0.86. Ashland Inc. has a 52-week low of $60.60 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 business's fifty day moving average is $69.76 and its 200-day moving average is $79.29.
Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data 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 period in the previous year, the business posted $0.45 EPS. As a group, analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.
Ashland Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.50%. Ashland's dividend payout ratio is presently -245.45%.
Analysts Set New Price Targets
A number of research firms have recently commented on ASH. UBS Group lowered 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. JPMorgan Chase & Co. lowered their target price on Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. BMO Capital Markets lifted their target price on Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 11th. StockNews.com cut Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their target price on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.57.
Read Our Latest Stock Report on ASH
Insider Activity at Ashland
In related news, VP Eric N. Boni sold 451 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Guillermo Novo bought 31,294 shares of the firm'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 acquisition, the chief executive officer now owns 31,294 shares of the company's stock, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.02% of the stock is owned by corporate insiders.
Ashland 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.
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