Ashland Inc. (NYSE:ASH) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 75.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,538 shares of the basic materials company's stock after selling 10,869 shares during the quarter. Teacher Retirement System of Texas' holdings in Ashland were worth $253,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts have recently commented on ASH shares. JPMorgan Chase & Co. raised shares of Ashland from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $68.00 to $71.00 in a research note on Wednesday, March 26th. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company decreased 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. UBS Group cut their price target on shares of Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, BMO Capital Markets boosted their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ashland has an average rating of "Moderate Buy" and an average price target of $85.40.

Ashland Stock Down 7.5 %

Shares of ASH traded down $4.00 during mid-day trading on Friday, reaching $49.08. 1,426,705 shares of the stock traded hands, compared to its average volume of 496,350. The stock has a fifty day simple moving average of $60.91 and a 200 day simple moving average of $72.46. Ashland Inc. has a 12-month low of $47.29 and a 12-month high of $102.50. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -74.36, a P/E/G ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 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 business posted $0.45 earnings per share. Sell-side analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders 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 yield of 3.30%. Ashland's dividend payout ratio is presently -245.45%.

Insider Buying and Selling at Ashland

In related news, CEO Guillermo Novo bought 31,294 shares of the company's stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares of the company's stock, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by corporate 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.