Dynamic Technology Lab Private Ltd Has $1.65 Million Stock Holdings in Ashland Inc. (NYSE:ASH)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 83.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,987 shares of the basic materials company's stock after purchasing an additional 8,650 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Ashland were worth $1,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Ashland by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,773,170 shares of the basic materials company's stock worth $262,037,000 after acquiring an additional 86,977 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Ashland by 12.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company's stock worth $226,000,000 after purchasing an additional 284,215 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Ashland by 6.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company's stock worth $151,131,000 after purchasing an additional 103,517 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Ashland by 6,127.2% in the third quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company's stock valued at $76,574,000 after buying an additional 866,320 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Ashland by 2.3% during the second quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company's stock valued at $63,492,000 after buying an additional 14,938 shares in the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Performance

Shares of NYSE ASH traded down $1.80 during midday trading on Tuesday, reaching $77.97. 335,224 shares of the company traded hands, compared to its average volume of 420,632. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The stock has a 50-day moving average price of $84.05 and a 200 day moving average price of $90.05. Ashland Inc. has a 52 week low of $75.04 and a 52 week high of $102.50.

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

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, November 29th. Ashland's payout ratio is 48.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ASH shares. BMO Capital Markets decreased their target price on Ashland from $92.00 to $83.00 and set a "market perform" rating for the company in a research report on Tuesday, November 19th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a report on Friday, September 13th. UBS Group reduced their price target on shares of Ashland from $116.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company lowered their price objective on shares of Ashland from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upgraded shares of Ashland from an "underweight" rating to a "neutral" rating and dropped their price objective for the stock from $90.00 to $89.00 in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have issued 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 target price of $103.29.

Insider Transactions at Ashland

In related news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company's stock.

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.