Empowered Funds LLC Purchases 9,656 Shares of Ashland Inc. (NYSE:ASH)

Empowered Funds LLC grew its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,103 shares of the basic materials company's stock after buying an additional 9,656 shares during the period. Empowered Funds LLC owned 0.08% of Ashland worth $2,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in shares of Ashland by 105.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company's stock valued at $8,513,000 after buying an additional 61,058 shares during the period. Edgestream Partners L.P. bought a new position in shares of Ashland in the third quarter worth approximately $3,134,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ashland by 138.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company's stock worth $10,501,000 after purchasing an additional 70,145 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ashland by 66.9% in the third quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company's stock worth $14,752,000 after purchasing an additional 67,980 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Ashland by 703.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company's stock worth $13,206,000 after purchasing an additional 161,812 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

Insider Activity

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the company's stock in a transaction that occurred 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 purchase, 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 position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eric N. Boni sold 451 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the sale, the vice president now directly owns 14,182 shares of the company's stock, valued at $1,107,188.74. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. UBS Group decreased their price objective on shares of Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 11th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on Ashland from $81.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. 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.com, Ashland currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.57.

Ashland Price Performance

ASH traded down $0.06 during midday trading on Monday, hitting $64.92. The stock had a trading volume of 528,369 shares, compared to its average volume of 687,133. The company has a market cap of $3.06 billion, a P/E ratio of -98.36, a price-to-earnings-growth ratio of 1.14 and a beta of 0.86. The business has a fifty day moving average of $69.53 and a 200 day moving average of $79.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. Ashland Inc. has a 1 year low of $60.60 and a 1 year high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 28th. Ashland's dividend payout ratio (DPR) is presently -245.45%.

About Ashland

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.