Connor Clark & Lunn Investment Management Ltd. Has $3.23 Million Stock Position in Ashland Inc. (NYSE:ASH)

Connor Clark & Lunn Investment Management Ltd. raised its position in Ashland Inc. (NYSE:ASH - Free Report) by 44.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,258 shares of the basic materials company's stock after purchasing an additional 13,856 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Ashland worth $3,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASH. Prospera Private Wealth LLC purchased a new position in Ashland in the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in Ashland in the 4th quarter valued at about $33,000. Wilmington Savings Fund Society FSB purchased a new position in Ashland in the 3rd quarter valued at about $38,000. Assetmark Inc. lifted its holdings in Ashland by 610.5% in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ashland during the 3rd quarter valued at about $72,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Trading Up 0.7 %

ASH traded up $0.41 on Friday, reaching $56.28. 2,582,343 shares of the company's stock were exchanged, compared to its average volume of 460,618. The company's 50 day moving average is $63.95 and its 200-day moving average is $74.91. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -85.27, a PEG ratio of 1.14 and a beta of 0.89. Ashland Inc. has a twelve month low of $54.86 and a twelve month high of $102.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52.

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Ashland (NYSE:ASH - Get Free Report) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter last year, the company posted $0.45 EPS. Equities analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, February 28th. Ashland's dividend payout ratio (DPR) is -245.45%.

Insider Buying and Selling at Ashland

In other news, CEO Guillermo Novo acquired 31,294 shares of the stock in a transaction on Friday, January 31st. The stock was bought at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the transaction, the chief executive officer now directly owns 31,294 shares of the company's stock, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing 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

A number of research firms have recently commented on ASH. Wells Fargo & Company dropped their price objective on shares of Ashland from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Seaport Res Ptn downgraded shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. BMO Capital Markets upped their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ashland from $81.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.