First Trust Advisors LP Purchases 63,503 Shares of Ashland Inc. (NYSE:ASH)

First Trust Advisors LP boosted its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 50.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,525 shares of the basic materials company's stock after acquiring an additional 63,503 shares during the period. First Trust Advisors LP owned approximately 0.40% of Ashland worth $13,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in shares of Ashland by 5.7% during the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 301 shares in the last quarter. Commerce Bank lifted its stake in Ashland by 7.4% in the fourth quarter. Commerce Bank now owns 5,042 shares of the basic materials company's stock valued at $360,000 after buying an additional 347 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Ashland by 11.4% in the fourth quarter. Vontobel Holding Ltd. now owns 3,541 shares of the basic materials company's stock valued at $253,000 after buying an additional 362 shares during the period. Synovus Financial Corp boosted its holdings in shares of Ashland by 11.2% in the third quarter. Synovus Financial Corp now owns 3,964 shares of the basic materials company's stock valued at $345,000 after buying an additional 400 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Ashland by 2.8% during the fourth quarter. Victory Capital Management Inc. now owns 15,429 shares of the basic materials company's stock worth $1,103,000 after acquiring an additional 417 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ashland

In other 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 acquired at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company's stock.

Ashland Stock Down 0.4 %

Ashland stock opened at $53.14 on Monday. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $102.50. The firm has a market capitalization of $2.51 billion, a PE ratio of -80.51, a P/E/G ratio of 1.14 and a beta of 0.70. The company's 50-day moving average is $55.88 and its 200-day moving average is $68.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

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 (EPS) for the quarter, missing the consensus estimate 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 prior year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ASH shares. Wells Fargo & Company decreased their price target on shares of Ashland from $69.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Seaport Res Ptn lowered shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Mizuho set a $60.00 price objective on shares of Ashland in a research note on Tuesday, April 15th. UBS Group lowered their target price on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Ashland currently has an average rating of "Moderate Buy" and an average price target of $73.20.

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.

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