Squarepoint Ops LLC Invests $3.09 Million in Ashland Inc. (NYSE:ASH)

Squarepoint Ops LLC bought a new stake in Ashland Inc. (NYSE:ASH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 32,647 shares of the basic materials company's stock, valued at approximately $3,085,000. Squarepoint Ops LLC owned 0.07% of Ashland at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ASH. Treasurer of the State of North Carolina raised its stake in shares of Ashland by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 21,035 shares of the basic materials company's stock worth $1,773,000 after buying an additional 210 shares during the period. TFO Wealth Partners LLC boosted its holdings in Ashland by 45,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 917 shares of the basic materials company's stock worth $77,000 after buying an additional 915 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Ashland during the 4th quarter worth approximately $1,434,000. Quadrature Capital Ltd lifted its position in shares of Ashland by 167.3% in the fourth quarter. Quadrature Capital Ltd now owns 39,253 shares of the basic materials company's stock valued at $3,311,000 after acquiring an additional 24,569 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Ashland during the fourth quarter worth approximately $67,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Trading Down 0.9 %

Shares of Ashland stock traded down $0.79 on Thursday, reaching $84.51. The company had a trading volume of 456,386 shares, compared to its average volume of 427,002. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.98. The firm has a market cap of $4.24 billion, a PE ratio of 22.42, a PEG ratio of 1.07 and a beta of 0.88. The firm's 50 day moving average price is $87.76 and its two-hundred day moving average price is $93.50. Ashland Inc. has a 52-week low of $70.82 and a 52-week high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Ashland had a return on equity of 5.98% and a net margin of 7.01%. The business had revenue of $544.00 million during the quarter, compared to analysts' expectations of $577.08 million. During the same period in the previous year, the firm posted $1.23 earnings per share. The company's revenue was down .4% on a year-over-year basis. Sell-side analysts predict that Ashland Inc. will post 4.55 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 1.92%. Ashland's dividend payout ratio (DPR) is presently 42.97%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ASH shares. BMO Capital Markets dropped their target price on shares of Ashland from $105.00 to $92.00 and set a "market perform" rating for the company in a report on Friday, August 9th. Wells Fargo & Company cut their price target on Ashland from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. raised 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 note on Thursday, August 8th. StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a report on Friday, September 13th. Finally, UBS Group dropped their price objective on shares of Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.50.

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.