Los Angeles Capital Management LLC Decreases Stock Position in Ashland Inc. (NYSE:ASH)

Los Angeles Capital Management LLC lowered its stake in Ashland Inc. (NYSE:ASH - Free Report) by 94.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,739 shares of the basic materials company's stock after selling 44,180 shares during the period. Los Angeles Capital Management LLC's holdings in Ashland were worth $238,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Ashland by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,773,170 shares of the basic materials company's stock valued at $262,037,000 after purchasing an additional 86,977 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Ashland by 9.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,314,387 shares of the basic materials company's stock worth $218,686,000 after buying an additional 198,913 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Ashland by 6.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company's stock valued at $151,131,000 after acquiring an additional 103,517 shares during the period. 1832 Asset Management L.P. raised its position in Ashland by 2.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company's stock valued at $63,492,000 after buying an additional 14,938 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Ashland by 2.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company's stock worth $54,918,000 after acquiring an additional 13,577 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ASH has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their price objective on shares of Ashland from $92.00 to $83.00 and set a "market perform" rating for the company in a research report on Tuesday. Wells Fargo & Company cut their price target on shares of Ashland from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Ashland from an "underweight" rating to a "neutral" rating and lowered their price objective for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a report on Friday, September 13th. Finally, UBS Group cut their price target on Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ashland presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.29.

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 2,883 shares of the company's stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by corporate insiders.

Ashland Stock Performance

Shares of NYSE:ASH traded down $0.89 during midday trading on Tuesday, reaching $76.14. 171,773 shares of the company's stock traded hands, compared to its average volume of 421,293. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.11 and a beta of 0.88. The stock has a 50 day moving average of $84.82 and a 200 day moving average of $90.73. Ashland Inc. has a one year low of $75.48 and a one year high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. During the same period last year, the firm posted $0.41 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that Ashland Inc. will post 4.82 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, November 29th. Ashland's dividend payout ratio is currently 48.36%.

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.