Charles Schwab Investment Management Inc. Buys 26,267 Shares of Ashland Inc. (NYSE:ASH)

Charles Schwab Investment Management Inc. grew its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,561 shares of the basic materials company's stock after purchasing an additional 26,267 shares during the period. Charles Schwab Investment Management Inc. owned about 1.49% of Ashland worth $50,205,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Prospera Private Wealth LLC acquired a new stake in Ashland during the 3rd quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in shares of Ashland in the 4th quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB acquired a new position in Ashland in the 3rd quarter worth approximately $38,000. Assetmark Inc. raised its stake in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 464 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ashland in the third quarter valued at $72,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ashland

In other Ashland news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction 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 completion of the purchase, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.02% of the company's stock.

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Ashland Stock Up 0.3 %

Shares of NYSE ASH traded up $0.16 during mid-day trading on Monday, reaching $57.22. 650,318 shares of the company traded hands, compared to its average volume of 446,612. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The company's fifty day moving average is $65.11 and its two-hundred day moving average is $75.64. The stock has a market cap of $2.70 billion, a PE ratio of -86.69, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. Ashland Inc. has a fifty-two week low of $55.29 and a fifty-two week high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly 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 earned $0.45 earnings per share. On average, analysts expect that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BMO Capital Markets upped their price target on Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price target 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. UBS Group decreased their price target on shares of Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target on shares of Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ashland currently has an average rating of "Hold" and an average 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.