Franklin Resources Inc. Trims Stake in Ashland Inc. (NYSE:ASH)

Franklin Resources Inc. decreased its position in Ashland Inc. (NYSE:ASH - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,895 shares of the basic materials company's stock after selling 75,797 shares during the quarter. Franklin Resources Inc. owned approximately 0.17% of Ashland worth $5,709,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Ashland during the fourth quarter worth about $28,943,000. Boston Partners boosted its stake in shares of Ashland by 47.1% in the 4th quarter. Boston Partners now owns 577,633 shares of the basic materials company's stock worth $41,247,000 after buying an additional 184,954 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Ashland by 2,060.5% in the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company's stock worth $12,802,000 after buying an additional 170,859 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings 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 valued at $13,206,000 after acquiring an additional 161,812 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Ashland by 16.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company's stock valued at $73,074,000 after acquiring an additional 142,121 shares during the last quarter. Institutional investors own 93.95% of the company's stock.

Ashland Stock Performance

Shares of ASH traded down $0.03 during trading hours on Tuesday, hitting $50.64. The company's stock had a trading volume of 62,631 shares, compared to its average volume of 506,408. The business has a 50 day simple moving average of $58.33 and a two-hundred day simple moving average of $70.45. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -76.80, a PEG ratio of 1.14 and a beta of 0.70. Ashland Inc. has a 52-week low of $45.21 and a 52-week high of $102.50. 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 posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts' consensus estimates 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 prior year, the business earned $0.45 earnings per share. On average, equities analysts expect that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, February 28th. Ashland's payout ratio is presently -245.45%.

Insider Activity

In other news, CEO Guillermo Novo acquired 31,294 shares of Ashland 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 owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ASH shares. Seaport Res Ptn downgraded Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. upgraded shares of Ashland from a "neutral" rating to an "overweight" rating and increased their price target for the company from $68.00 to $71.00 in a research report on Wednesday, March 26th. Wells Fargo & Company decreased their price objective on shares of Ashland from $69.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group dropped their target price on shares of Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com lowered shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ashland has an average rating of "Moderate Buy" and an average target price of $83.20.

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.