Invesco Ltd. Raises Stock Position in Ashland Inc. (NYSE:ASH)

Invesco Ltd. increased its position in Ashland Inc. (NYSE:ASH - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 379,113 shares of the basic materials company's stock after purchasing an additional 22,876 shares during the quarter. Invesco Ltd. owned approximately 0.80% of Ashland worth $27,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. 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 acquired a new stake in Ashland in the third quarter valued at $38,000. Atala Financial Inc acquired a new stake in Ashland during the fourth quarter worth approximately $56,000. Assetmark Inc. boosted its stake in Ashland by 84.1% in the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock valued at $71,000 after purchasing an additional 454 shares during the period. Finally, Independence Bank of Kentucky boosted its position in shares of Ashland by 302.4% in the fourth quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 1,119 shares during the period. Institutional investors own 93.95% of the company's stock.

Insider Activity

In other news, CEO Guillermo Novo acquired 31,294 shares of the firm's 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 acquisition, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company's stock.

Ashland Stock Up 2.3 %

Shares of NYSE ASH traded up $1.19 during trading on Thursday, hitting $53.01. 57,049 shares of the company traded hands, compared to its average volume of 510,151. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $102.50. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -80.30, a P/E/G ratio of 1.14 and a beta of 0.70. The business's fifty day moving average is $56.40 and its 200 day moving average is $68.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52.

Ashland (NYSE:ASH - Get Free Report) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share 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 last year, the business earned $0.45 EPS. Equities research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ASH. JPMorgan Chase & Co. upgraded shares of Ashland from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. Seaport Res Ptn cut Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. UBS Group lowered their price target on Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Mizuho set a $60.00 target price on shares of Ashland in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Ashland presently has an average rating of "Moderate Buy" and an average target price of $73.20.

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.