Ashland Inc. (NYSE:ASH) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its position in shares of Ashland Inc. (NYSE:ASH - Free Report) by 69.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,779 shares of the basic materials company's stock after selling 47,400 shares during the period. Quantbot Technologies LP's holdings in Ashland were worth $1,485,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Ashland in the third quarter worth approximately $38,000. Versant Capital Management Inc acquired a new position in Ashland in the fourth quarter valued at about $33,000. Atala Financial Inc purchased a new position in Ashland during the fourth quarter worth about $56,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ashland in the 3rd quarter valued at approximately $72,000. Finally, Assetmark Inc. boosted its position in shares of Ashland by 84.1% during the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock worth $71,000 after purchasing an additional 454 shares during the period. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Price Performance

Shares of ASH opened at $57.24 on Tuesday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -86.72, a PEG ratio of 1.14 and a beta of 0.89. The firm's fifty day simple moving average is $63.47 and its 200-day simple moving average is $74.29. Ashland Inc. has a twelve month low of $54.86 and a twelve month 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.

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Ashland (NYSE:ASH - Get Free Report) last posted 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 period last year, the firm earned $0.45 earnings per share. Equities analysts forecast that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, February 28th. Ashland's dividend payout ratio (DPR) is -245.45%.

Insiders Place Their Bets

In related 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 purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares of the company's stock, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ASH shares. UBS Group lowered their price target on Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Seaport Res Ptn cut shares of Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company cut their price objective on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $87.00.

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.

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