VELA Investment Management LLC Reduces Stock Holdings in Ashland Inc. (NYSE:ASH)

VELA Investment Management LLC reduced its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 20.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,580 shares of the basic materials company's stock after selling 10,037 shares during the period. VELA Investment Management LLC owned approximately 0.08% of Ashland worth $2,757,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ASH. Prospera Private Wealth LLC purchased a new position in Ashland in the 3rd quarter valued at about $31,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland during the 3rd quarter worth about $38,000. Versant Capital Management Inc acquired a new stake in shares of Ashland during the fourth quarter valued at about $33,000. Assetmark Inc. raised its position in Ashland by 610.5% in the third 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 period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ashland in the 3rd quarter valued at $72,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the company's stock in a transaction that occurred 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 directly owns 14,182 shares of the company's stock, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Guillermo Novo acquired 31,294 shares of the firm's stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.02% of the stock is owned by insiders.

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Ashland Stock Down 3.1 %

Shares of NYSE:ASH traded down $1.82 during trading on Tuesday, hitting $56.61. 1,105,338 shares of the company were exchanged, compared to its average volume of 430,468. The firm's 50 day moving average price is $67.57 and its 200-day moving average price is $77.53. Ashland Inc. has a 12-month low of $56.50 and a 12-month high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The stock has a market capitalization of $2.67 billion, a P/E ratio of -85.84, a PEG ratio of 1.14 and a beta of 0.86.

Ashland (NYSE:ASH - Get Free Report) last posted its earnings results 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 period last year, the firm posted $0.45 EPS. On average, research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.86%. Ashland's payout ratio is -245.45%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ASH. StockNews.com downgraded shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. UBS Group reduced their price objective on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. BMO Capital Markets upped their price target on Ashland from $83.00 to $84.00 and gave the stock a "market perform" rating in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on Ashland from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ashland presently has an average rating of "Moderate Buy" and an average target price of $93.50.

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.