Guggenheim Capital LLC Has $4.18 Million Holdings in Ashland Inc. (NYSE:ASH)

Guggenheim Capital LLC reduced its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 51.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,425 shares of the basic materials company's stock after selling 61,402 shares during the quarter. Guggenheim Capital LLC owned about 0.12% of Ashland worth $4,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Ashland during the third quarter valued at about $38,000. Versant Capital Management Inc bought a new stake in shares of Ashland during the fourth quarter valued at about $33,000. Atala Financial Inc bought a new stake in Ashland in the fourth quarter worth about $56,000. Covestor Ltd raised its position in Ashland by 80.6% in the fourth quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock worth $69,000 after acquiring an additional 428 shares in the last quarter. Finally, Assetmark Inc. raised its position in Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock worth $71,000 after acquiring an additional 454 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASH. StockNews.com cut Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Ashland from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $68.00 to $71.00 in a research report on Wednesday, March 26th. Wells Fargo & Company cut their target price on shares of Ashland from $69.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. UBS Group cut their target price on shares of Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Mizuho set a $60.00 target price on shares of Ashland in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Ashland presently has an average rating of "Moderate Buy" and a consensus price target of $73.20.

Insider Activity at Ashland

In other news, CEO Guillermo Novo acquired 31,294 shares of the firm's stock in a transaction on Friday, January 31st. The shares were purchased at an average cost 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 of the company's stock, valued at approximately $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is currently owned by insiders.

Ashland Stock Performance

NYSE ASH traded up $1.40 during midday trading on Thursday, hitting $53.22. The company had a trading volume of 65,259 shares, compared to its average volume of 510,194. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -80.59, a P/E/G ratio of 1.14 and a beta of 0.70. The firm has a fifty day simple moving average of $56.40 and a two-hundred day simple moving average of $68.96. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings results 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter last year, the business earned $0.45 earnings per share. Equities analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

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.