Vanguard Group Inc. Acquires 66,530 Shares of Ashland Inc. (NYSE:ASH)

Vanguard Group Inc. increased its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,928,924 shares of the basic materials company's stock after acquiring an additional 66,530 shares during the period. Vanguard Group Inc. owned 10.45% of Ashland worth $352,221,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Citigroup Inc. grew its holdings in Ashland by 465.0% during the third quarter. Citigroup Inc. now owns 42,287 shares of the basic materials company's stock valued at $3,678,000 after purchasing an additional 34,802 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ashland by 138.6% in 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ashland during the 3rd quarter worth $72,000. Benjamin Edwards Inc. boosted its holdings in Ashland by 62,666.7% during the third quarter. Benjamin Edwards Inc. now owns 3,766 shares of the basic materials company's stock valued at $328,000 after acquiring an additional 3,760 shares during the period. Finally, Quarry LP increased its stake in shares of Ashland by 176.9% in the third quarter. Quarry LP now owns 1,498 shares of the basic materials company's stock worth $130,000 after purchasing an additional 957 shares during the period. 93.95% of the stock is owned by institutional investors.

Insider Transactions at Ashland

In other Ashland news, CEO Guillermo Novo acquired 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 purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.02% of the company's stock.

Analyst Ratings Changes

ASH has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Ashland from $80.00 to $69.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Seaport Res Ptn downgraded shares of Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. BMO Capital Markets increased their price target on shares of Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Ashland from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. Finally, StockNews.com lowered 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.40.

Ashland Trading Down 4.8 %

ASH traded down $2.34 during trading on Tuesday, reaching $46.39. 745,080 shares of the company's stock were exchanged, compared to its average volume of 500,297. The company's fifty day moving average price is $59.61 and its 200-day moving average price is $71.71. The firm has a market capitalization of $2.19 billion, a PE ratio of -70.29, a P/E/G ratio of 1.14 and a beta of 0.70. Ashland Inc. has a fifty-two week low of $45.79 and a fifty-two week high of $102.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts' consensus estimates 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 period last year, the firm earned $0.45 EPS. As a group, equities analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.405 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.49%. Ashland's dividend payout ratio (DPR) is presently -245.45%.

Ashland 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.