Raymond James Financial Inc. Takes Position in Ashland Inc. (NYSE:ASH)

Raymond James Financial Inc. purchased a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 405,030 shares of the basic materials company's stock, valued at approximately $28,943,000. Raymond James Financial Inc. owned about 0.86% of Ashland as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of Ashland during the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ashland in the third quarter valued at $38,000. Atala Financial Inc bought a new position in shares of Ashland in the fourth quarter valued at about $56,000. Assetmark Inc. lifted its stake in shares of Ashland by 84.1% during the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock worth $71,000 after buying an additional 454 shares during the last quarter. Finally, Independence Bank of Kentucky grew its stake in Ashland by 302.4% in the 4th quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company's stock valued at $106,000 after buying an additional 1,119 shares during the last quarter. Institutional investors own 93.95% of the company's stock.

Ashland Price Performance

Shares of Ashland stock traded up $1.07 during trading on Wednesday, reaching $52.52. 51,048 shares of the company's stock were exchanged, compared to its average volume of 509,569. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The company has a market cap of $2.48 billion, a P/E ratio of -79.57, a PEG ratio of 1.14 and a beta of 0.70. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $102.50. The firm's 50-day moving average price is $56.66 and its 200 day moving average price is $69.08.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter last year, the firm earned $0.45 EPS. As a group, research analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Insiders Place Their Bets

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of Ashland stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares of the company's stock, valued at $2,010,326.56. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ASH shares. Mizuho set a $60.00 target price on Ashland in a research report on Tuesday, April 15th. StockNews.com downgraded shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Seaport Res Ptn cut shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. UBS Group decreased their target price on shares of Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upgraded shares of Ashland from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $68.00 to $71.00 in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $73.20.

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.