Franklin Resources Inc. Has $13.56 Million Stock Holdings in Ashland Inc. (NYSE:ASH)

Franklin Resources Inc. reduced its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 40.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 155,692 shares of the basic materials company's stock after selling 106,095 shares during the period. Franklin Resources Inc. owned approximately 0.33% of Ashland worth $13,556,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Edgestream Partners L.P. purchased a new position in shares of Ashland during the third quarter worth about $3,134,000. 1832 Asset Management L.P. raised its holdings in shares of Ashland by 2.3% in the second quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company's stock worth $63,492,000 after acquiring an additional 14,938 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 buying an additional 70,145 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Ashland during the 2nd quarter worth $2,442,000. Finally, Deprince Race & Zollo Inc. boosted its position in shares of Ashland by 2.4% in the second quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company's stock worth $54,918,000 after acquiring an additional 13,577 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Price Performance

Shares of Ashland stock traded down $0.10 on Friday, hitting $71.85. The company had a trading volume of 1,165,273 shares, compared to its average volume of 427,276. Ashland Inc. has a 52 week low of $71.56 and a 52 week high of $102.50. The company has a market cap of $3.38 billion, a PE ratio of 21.45, a PEG ratio of 1.15 and a beta of 0.86. The business has a 50-day simple moving average of $80.16 and a 200-day simple moving average of $87.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The firm had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. During the same period in the previous year, the business posted $0.41 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. Research analysts expect that Ashland Inc. will post 4.52 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, November 29th. Ashland's dividend payout ratio (DPR) is presently 48.36%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ASH shares. StockNews.com lowered shares of Ashland from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. BMO Capital Markets raised their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their target price on shares of Ashland from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $102.00.

Insider Activity

In other news, SVP Robin E. Lampkin sold 868 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric N. Boni sold 451 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were 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 in the company, valued at $1,107,188.74. This trade represents 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.

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.