Ashland Inc. (NYSE:ASH) Shares Sold by Taurus Asset Management LLC

Taurus Asset Management LLC trimmed its position in shares of Ashland Inc. (NYSE:ASH - Free Report) by 6.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,963 shares of the basic materials company's stock after selling 5,955 shares during the quarter. Taurus Asset Management LLC owned approximately 0.16% of Ashland worth $7,556,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company's stock worth $27,000 after purchasing an additional 153 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Ashland in the 4th quarter valued at $67,000. Quadrant Capital Group LLC increased its stake in shares of Ashland by 143.7% in the 4th quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company's stock worth $68,000 after acquiring an additional 477 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Ashland during the 2nd quarter worth $71,000. Finally, Quest Partners LLC boosted its position in shares of Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company's stock valued at $71,000 after acquiring an additional 739 shares during the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

Ashland Trading Up 1.8 %

Shares of ASH stock traded up $1.53 on Friday, hitting $86.70. The stock had a trading volume of 478,324 shares, compared to its average volume of 412,574. The company's 50 day moving average price is $89.90 and its 200-day moving average price is $94.29. Ashland Inc. has a 1 year low of $70.82 and a 1 year high of $102.50. The firm has a market capitalization of $4.35 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.98 and a quick ratio of 1.84.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Ashland had a net margin of 7.01% and a return on equity of 5.98%. The business had revenue of $544.00 million for the quarter, compared to analysts' expectations of $577.08 million. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business's quarterly revenue was down .4% on a year-over-year basis. Analysts anticipate that Ashland Inc. will post 4.55 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a $0.405 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 1.87%. Ashland's dividend payout ratio (DPR) is presently 42.97%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASH. JPMorgan Chase & Co. upgraded shares of Ashland from an "underweight" rating to a "neutral" rating and cut their price objective for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. StockNews.com lowered shares of Ashland from a "buy" rating to a "hold" rating in a research report on Friday. BMO Capital Markets lowered their price objective on Ashland from $105.00 to $92.00 and set a "market perform" rating for the company in a research report on Friday, August 9th. Wells Fargo & Company reduced their target price on Ashland from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group lowered their price target on Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.50.

About Ashland

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.