Ieq Capital LLC Buys New Stake in Ashland Inc. (NYSE:ASH)

Ieq Capital LLC purchased a new stake in shares of Ashland Inc. (NYSE:ASH - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 23,289 shares of the basic materials company's stock, valued at approximately $1,664,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State of New Jersey Common Pension Fund D lifted its stake in shares of Ashland by 22.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,480 shares of the basic materials company's stock worth $1,964,000 after purchasing an additional 5,092 shares during the last quarter. PUREfi Wealth LLC acquired a new position in Ashland in the 4th quarter worth approximately $325,000. Vontobel Holding Ltd. lifted its stake in Ashland by 11.4% during the 4th quarter. Vontobel Holding Ltd. now owns 3,541 shares of the basic materials company's stock valued at $253,000 after acquiring an additional 362 shares during the period. Savant Capital LLC purchased a new stake in Ashland in the fourth quarter valued at $344,000. Finally, Empowered Funds LLC lifted its holdings in shares of Ashland by 36.5% in the 4th quarter. Empowered Funds LLC now owns 36,103 shares of the basic materials company's stock valued at $2,580,000 after buying an additional 9,656 shares during the period. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ASH shares. 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 research note on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price objective on shares of Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. StockNews.com lowered shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. UBS Group cut their price objective 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, Wells Fargo & Company lowered their price objective on Ashland from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.57.

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Insider Buying and Selling at Ashland

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of Ashland stock in a transaction on Friday, January 31st. The shares were bought at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the acquisition, the chief executive officer now directly owns 31,294 shares of the company's stock, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the sale, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Ashland Stock Performance

Shares of Ashland stock traded down $1.17 on Thursday, hitting $61.52. The stock had a trading volume of 837,926 shares, compared to its average volume of 672,081. The company's 50 day moving average price is $68.26 and its 200 day moving average price is $78.06. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -93.21, a P/E/G ratio of 1.14 and a beta of 0.86. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 52-week low of $60.60 and a 52-week high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 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 previous year, the company earned $0.45 EPS. On average, research analysts anticipate that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, February 28th. Ashland's dividend payout ratio (DPR) is -245.45%.

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.