Harbor Capital Advisors Inc. Purchases 61,058 Shares of Ashland Inc. (NYSE:ASH)

Harbor Capital Advisors Inc. boosted its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 105.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,135 shares of the basic materials company's stock after buying an additional 61,058 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.25% of Ashland worth $8,513,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ASH. Prospera Private Wealth LLC acquired a new position in Ashland during the 3rd quarter valued at $31,000. UMB Bank n.a. lifted its holdings in shares of Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock worth $33,000 after acquiring an additional 251 shares during the period. Versant Capital Management Inc bought a new position in shares of Ashland during the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new stake in Ashland during the third quarter worth about $38,000. Finally, Assetmark Inc. raised its holdings in shares of Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company's stock valued at $47,000 after buying an additional 464 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a report on Wednesday, December 11th. Wells Fargo & Company cut their price target on shares of Ashland from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ashland currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.00.

Ashland Stock Performance

Shares of ASH stock traded down $1.61 during trading on Friday, reaching $68.74. 366,696 shares of the company's stock were exchanged, compared to its average volume of 472,183. Ashland Inc. has a twelve month low of $68.54 and a twelve month high of $102.50. The firm's fifty day moving average price is $75.92 and its 200-day moving average price is $84.45. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.24 billion, a PE ratio of 20.52, a PEG ratio of 1.15 and a beta of 0.87.

Ashland (NYSE:ASH - Get Free Report) last posted its 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). The company had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts anticipate that Ashland Inc. will post 4.52 EPS for the current year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.405 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.36%. Ashland's dividend payout ratio (DPR) is presently 48.36%.

Insider Buying and Selling

In other news, SVP Robin E. Lampkin sold 868 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 2,883 shares of the company's stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the firm's stock in a transaction 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 approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Ashland 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.