Ashland Inc. (NYSE:ASH) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 32.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,847 shares of the basic materials company's stock after selling 5,329 shares during the period. AlphaQuest LLC's holdings in Ashland were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASH. Prospera Private Wealth LLC acquired a new position in Ashland during the third quarter worth $31,000. Versant Capital Management Inc purchased a new stake in Ashland during the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Ashland during the third quarter worth $38,000. Assetmark Inc. boosted its position in Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company's stock worth $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ashland during the third quarter worth $72,000. Institutional investors and hedge funds own 93.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group decreased their target price on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Seaport Res Ptn downgraded Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. decreased their target price on Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.50.

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Insider Activity at Ashland

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company's stock.

Ashland Stock Up 0.0 %

Shares of NYSE:ASH opened at $57.37 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 52-week low of $56.08 and a 52-week high of $102.50. The stock's fifty day simple moving average is $65.95 and its 200-day simple moving average is $76.32. The company has a market capitalization of $2.71 billion, a P/E ratio of -86.93, a P/E/G ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH - Get Free Report) last released 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 negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period last year, the business earned $0.45 earnings per share. As a group, equities research analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

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 paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.82%. Ashland's payout ratio is currently -245.45%.

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.

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