Edgestream Partners L.P. Buys Shares of 36,036 Ashland Inc. (NYSE:ASH)

Edgestream Partners L.P. bought a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 36,036 shares of the basic materials company's stock, valued at approximately $3,134,000. Edgestream Partners L.P. owned 0.07% of Ashland at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Ashland during the third quarter valued at about $31,000. UMB Bank n.a. increased its position in Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock valued at $33,000 after buying an additional 251 shares in the last quarter. 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 worth $47,000 after buying an additional 464 shares during the period. GAMMA Investing LLC boosted its holdings in Ashland by 133.8% in the second quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company's stock worth $61,000 after acquiring an additional 372 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company's stock valued at $71,000 after acquiring an additional 739 shares during the period. Institutional investors and hedge funds own 93.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ASH. BMO Capital Markets lowered their target price on Ashland from $92.00 to $83.00 and set a "market perform" rating on the stock in a research report on Tuesday, November 19th. UBS Group decreased their target price on shares of Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company lowered their target price on shares of Ashland from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Ashland from an "underweight" rating to a "neutral" rating and cut their price target for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Ashland presently has an average rating of "Moderate Buy" and an average target price of $103.29.

Ashland Stock Performance

Ashland stock traded up $2.19 during mid-day trading on Monday, reaching $80.25. 759,690 shares of the company's stock were exchanged, compared to its average volume of 420,281. The business's fifty day simple moving average is $83.31 and its 200 day simple moving average is $89.49. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ashland Inc. has a one year low of $75.04 and a one year high of $102.50. The firm has a market capitalization of $3.78 billion, a PE ratio of 23.30, a P/E/G ratio of 1.16 and a beta of 0.88.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results 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 business had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, sell-side analysts expect that Ashland Inc. will post 4.66 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.02%. Ashland's payout ratio is currently 48.36%.

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction dated 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 sale, the senior vice president now owns 2,883 shares of the company's stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by 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.