Ashland Inc. (NYSE:ASH) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. raised its position in Ashland Inc. (NYSE:ASH - Free Report) by 75.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,218 shares of the basic materials company's stock after acquiring an additional 88,425 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.42% of Ashland worth $16,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC bought a new stake in Ashland during the first quarter valued at approximately $212,000. Price T Rowe Associates Inc. MD increased its stake in shares of Ashland by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,613 shares of the basic materials company's stock worth $2,397,000 after purchasing an additional 2,016 shares in the last quarter. Paloma Partners Management Co bought a new position in Ashland in the 1st quarter worth $352,000. Silvercrest Asset Management Group LLC purchased a new position in Ashland during the first quarter valued at $228,000. Finally, Bayesian Capital Management LP increased its holdings in Ashland by 242.5% in the 1st quarter. Bayesian Capital Management LP now owns 13,700 shares of the basic materials company's stock worth $1,334,000 after acquiring an additional 9,700 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Price Performance

ASH traded up $1.41 during trading on Friday, hitting $79.05. The company's stock had a trading volume of 286,470 shares, compared to its average volume of 466,397. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.12 and a beta of 0.88. The business's fifty day simple moving average is $84.35 and its 200 day simple moving average is $90.41. Ashland Inc. has a twelve month low of $75.04 and a twelve month high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $522.00 million for the quarter, compared to analysts' expectations of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The firm's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. On average, equities research analysts forecast that Ashland Inc. will post 4.82 EPS 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 given a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.05%. Ashland's dividend payout ratio is presently 48.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ASH shares. JPMorgan Chase & Co. raised shares of Ashland from an "underweight" rating to a "neutral" rating and lowered their price target for the company from $90.00 to $89.00 in a report on Thursday, August 8th. StockNews.com cut Ashland from a "buy" rating to a "hold" rating in a report on Friday, September 13th. UBS Group dropped their price objective on Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company lowered their price target on Ashland from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets lowered their target price on shares of Ashland from $92.00 to $83.00 and set a "market perform" rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $103.29.

Insiders Place Their Bets

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 transaction of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares of the company's stock, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by company insiders.

Ashland 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.