Ashland Inc. (NYSE:ASH) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,161 shares of the basic materials company's stock after selling 7,417 shares during the quarter. Legal & General Group Plc owned about 0.21% of Ashland worth $7,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Ashland during the third quarter worth about $38,000. Versant Capital Management Inc purchased a new position in shares of Ashland during the 4th quarter worth approximately $33,000. Atala Financial Inc acquired a new stake in Ashland in the 4th quarter valued at approximately $56,000. 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 valued at $71,000 after purchasing an additional 454 shares during the period. Finally, Independence Bank of Kentucky raised its position in 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 purchasing an additional 1,119 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is currently owned by company insiders.

Ashland Stock Up 0.8 %

ASH traded up $0.40 on Wednesday, reaching $51.85. The company's stock had a trading volume of 215,327 shares, compared to its average volume of 510,254. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -78.57, a P/E/G ratio of 1.14 and a beta of 0.70. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $102.50. 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 50 day moving average of $56.66 and a two-hundred day moving average of $69.08.

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 (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 quarter last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ASH has been the subject of a number of research reports. Mizuho set a $60.00 price objective on Ashland in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of Ashland from $69.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. UBS Group decreased their price target 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. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upgraded Ashland from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $68.00 to $71.00 in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.20.

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.