Ashland Inc. (NYSE:ASH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,486 shares of the basic materials company's stock after selling 23,927 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of Ashland worth $5,752,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its stake in shares of Ashland by 105.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company's stock valued at $8,513,000 after purchasing an additional 61,058 shares during the last quarter. Edgestream Partners L.P. acquired 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 position 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 valued at $10,501,000 after buying an additional 70,145 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ashland by 66.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company's stock valued at $14,752,000 after buying an additional 67,980 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Ashland by 703.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company's stock worth $13,206,000 after acquiring an additional 161,812 shares during the last quarter. Institutional investors own 93.95% of the company's stock.

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Ashland Trading Down 3.9 %

Ashland stock traded down $2.40 during trading hours on Monday, reaching $58.42. 465,915 shares of the company's stock were exchanged, compared to its average volume of 671,290. The firm has a market capitalization of $2.76 billion, a PE ratio of -88.48, a PEG ratio of 1.14 and a beta of 0.86. Ashland Inc. has a twelve month low of $58.45 and a twelve month high of $102.50. The firm's 50 day simple moving average is $67.82 and its 200 day simple moving average is $77.72. 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 (NYSE:ASH - Get Free Report) last issued 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period in the prior year, the company posted $0.45 earnings per share. Research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.77%. Ashland's dividend payout ratio is currently -245.45%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ASH shares. BMO Capital Markets lifted their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their target price on shares of Ashland from $81.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company reduced their price target on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, UBS Group reduced their target price on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.50.

Insider Activity

In other news, CEO Guillermo Novo bought 31,294 shares of the company's stock in a transaction dated Friday, January 31st. The shares were purchased at an average price 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 in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares of the company's stock, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company's stock.

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.