Principal Financial Group Inc. Sells 53,718 Shares of Ashland Inc. (NYSE:ASH)

Principal Financial Group Inc. lessened its position in shares of Ashland Inc. (NYSE:ASH - Free Report) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,242 shares of the basic materials company's stock after selling 53,718 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Ashland worth $9,849,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Ashland during the 3rd quarter valued at about $31,000. UMB Bank n.a. increased its stake in Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock worth $33,000 after acquiring an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Ashland during the third quarter valued at approximately $38,000. Assetmark Inc. lifted its stake in shares of Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 464 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Ashland by 8,211.1% in the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company's stock worth $71,000 after purchasing an additional 739 shares during the period. Institutional investors own 93.95% of the company's stock.

Ashland Trading Up 0.7 %

Shares of ASH traded up $0.53 during trading hours on Tuesday, reaching $71.46. 276,929 shares of the company traded hands, compared to its average volume of 423,625. The stock's fifty day moving average price is $78.28 and its 200 day moving average price is $85.75. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.15 and a beta of 0.86. Ashland Inc. has a 12-month low of $70.30 and a 12-month high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.02). The company had revenue of $522.00 million during the quarter, compared to analysts' expectations of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. Ashland's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Sell-side analysts forecast that Ashland Inc. will post 4.52 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.27%. Ashland's payout ratio is currently 48.36%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets increased their price target on Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on shares of Ashland from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 11th. Finally, StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Ashland has a consensus rating of "Moderate Buy" and an average target price of $102.00.

Insider Buying and Selling at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the sale, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the sale, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

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.