Ashland Inc. (NYSE:ASH) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 42.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 26,418 shares of the basic materials company's stock after selling 19,670 shares during the period. Ontario Teachers Pension Plan Board owned 0.05% of Ashland worth $2,298,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ashland during the third quarter worth about $2,731,000. Prospera Private Wealth LLC bought a new stake in shares of Ashland in the 3rd quarter worth about $31,000. Quest Partners LLC raised its position in Ashland by 2,062.6% during the third quarter. Quest Partners LLC now owns 16,176 shares of the basic materials company's stock valued at $1,407,000 after purchasing an additional 15,428 shares during the period. Mutual of America Capital Management LLC raised its holdings in Ashland by 3.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 198,810 shares of the basic materials company's stock valued at $17,291,000 after buying an additional 5,913 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Ashland by 1.4% in the third quarter. Natixis Advisors LLC now owns 75,575 shares of the basic materials company's stock valued at $6,573,000 after acquiring an additional 1,012 shares during the period. 93.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Robin E. Lampkin sold 868 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares of the company's stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.69% of the company's stock.

Ashland Price Performance

Shares of ASH stock traded down $0.16 during trading hours on Wednesday, reaching $76.23. The company had a trading volume of 350,357 shares, compared to its average volume of 421,533. Ashland Inc. has a 12-month low of $75.04 and a 12-month high of $102.50. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.11 and a beta of 0.88. The stock has a fifty day moving average of $84.66 and a 200-day moving average of $90.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company had revenue of $522.00 million for the quarter, compared to analysts' expectations of $524.07 million. During the same period in the previous year, the business posted $0.41 EPS. The business's revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that Ashland Inc. will post 4.82 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.13%. Ashland's dividend payout ratio (DPR) is presently 48.36%.

Analyst Ratings Changes

Several analysts have recently weighed in on ASH shares. JPMorgan Chase & Co. raised shares of Ashland from an "underweight" rating to a "neutral" rating and decreased their price target for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. StockNews.com lowered shares of Ashland from a "buy" rating to a "hold" rating in a report on Friday, September 13th. BMO Capital Markets reduced their price target on shares of Ashland from $92.00 to $83.00 and set a "market perform" rating for the company in a research report on Tuesday. UBS Group decreased their price objective on Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Finally, Wells Fargo & Company decreased their target price on shares of Ashland from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $103.29.

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.