Lighthouse Investment Partners LLC Takes Position in Ashland Inc. (NYSE:ASH)

Lighthouse Investment Partners LLC purchased a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,843 shares of the basic materials company's stock, valued at approximately $2,442,000. Lighthouse Investment Partners LLC owned approximately 0.05% of Ashland as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. grew its holdings in Ashland by 2.4% in the second quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company's stock valued at $54,918,000 after purchasing an additional 13,577 shares during the period. AQR Capital Management LLC grew its stake in Ashland by 616.6% in the 2nd quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company's stock valued at $17,875,000 after acquiring an additional 162,776 shares during the period. Point72 Europe London LLP purchased a new stake in Ashland in the 2nd quarter worth $4,438,000. Point72 Hong Kong Ltd acquired a new position in Ashland during the second quarter worth $412,000. Finally, Squarepoint Ops LLC acquired a new position in Ashland during the second quarter worth $3,085,000. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Trading Up 0.5 %

NYSE ASH traded up $0.41 on Friday, reaching $87.63. 430,704 shares of the company were exchanged, compared to its average volume of 427,609. The company has a current ratio of 2.98, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The business's fifty day moving average price is $88.38 and its 200 day moving average price is $93.71. The stock has a market capitalization of $4.39 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. Ashland Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, beating 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 firm had revenue of $544.00 million for the quarter, compared to analysts' expectations of $577.08 million. During the same quarter in the previous year, the company posted $1.23 EPS. The company's revenue was down .4% compared to the same quarter last year. Analysts forecast that Ashland Inc. will post 4.55 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.85%. Ashland's dividend payout ratio is currently 42.97%.

Analysts Set New Price Targets

ASH has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Ashland from an "underweight" rating to a "neutral" rating and cut their target price for the stock from $90.00 to $89.00 in a research note on Thursday, August 8th. Wells Fargo & Company reduced their target price on Ashland from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. UBS Group lowered their price target on Ashland from $116.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a research note on Friday, September 13th. Finally, BMO Capital Markets decreased their price objective on Ashland from $105.00 to $92.00 and set a "market perform" rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Ashland has a consensus 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.