Sei Investments Co. Reduces Stake in Ashland Inc. (NYSE:ASH)

Sei Investments Co. reduced its stake in Ashland Inc. (NYSE:ASH - Free Report) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,405 shares of the basic materials company's stock after selling 7,717 shares during the period. Sei Investments Co. owned 0.16% of Ashland worth $5,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland in the third quarter valued at approximately $38,000. Versant Capital Management Inc purchased a new stake in shares of Ashland in the 4th quarter worth $33,000. Atala Financial Inc purchased a new stake in shares of Ashland in the 4th quarter worth $56,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ashland during the 3rd quarter worth $72,000. Finally, Assetmark Inc. raised its holdings in shares of Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock valued at $71,000 after acquiring an additional 454 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ASH has been the topic of several recent research reports. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Seaport Res Ptn downgraded shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their target price on Ashland from $80.00 to $69.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. BMO Capital Markets lifted 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. Finally, UBS Group decreased their price objective on Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.40.

Ashland Stock Down 7.5 %

ASH traded down $4.00 during trading on Friday, hitting $49.08. The stock had a trading volume of 1,426,705 shares, compared to its average volume of 496,350. The stock has a 50 day simple moving average of $60.91 and a two-hundred day simple moving average of $72.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. Ashland Inc. has a twelve month low of $47.29 and a twelve month high of $102.50. The company has a market capitalization of $2.32 billion, a PE ratio of -74.36, a PEG ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share 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 period last year, the firm posted $0.45 earnings per share. On average, research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 3.30%. Ashland's dividend payout ratio (DPR) is currently -245.45%.

Insider Activity at Ashland

In related news, CEO Guillermo Novo purchased 31,294 shares of the business's stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares of the company's stock, valued at $2,010,326.56. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is currently owned by insiders.

Ashland Company 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.