First Eagle Investment Management LLC Increases Stock Holdings in Ashland Inc. (NYSE:ASH)

First Eagle Investment Management LLC boosted its position in Ashland Inc. (NYSE:ASH - Free Report) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,050 shares of the basic materials company's stock after purchasing an additional 31,200 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.33% of Ashland worth $11,151,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in Ashland by 105.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company's stock worth $8,513,000 after purchasing an additional 61,058 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Ashland during the third quarter valued at about $3,134,000. Bank of New York Mellon Corp increased its holdings in shares of Ashland by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company's stock valued at $36,964,000 after acquiring an additional 7,709 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ashland by 138.6% during 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 valued at $10,501,000 after acquiring an additional 70,145 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Ashland by 66.9% during the third quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company's stock valued at $14,752,000 after acquiring an additional 67,980 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, CEO Guillermo Novo acquired 31,294 shares of the stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ASH. Seaport Res Ptn downgraded shares of Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. UBS Group cut their price objective on shares of Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. StockNews.com downgraded shares of Ashland from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $87.00.

Ashland Stock Performance

NYSE ASH traded down $0.39 during trading hours on Wednesday, reaching $55.94. The stock had a trading volume of 798,351 shares, compared to its average volume of 450,098. The stock has a fifty day moving average of $64.53 and a 200 day moving average of $75.18. The stock has a market cap of $2.64 billion, a P/E ratio of -84.75, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. Ashland Inc. has a 52-week low of $54.75 and a 52-week 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.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $0.45 earnings per share. Sell-side analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.90%. Ashland's dividend payout ratio 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.