WCM Investment Management LLC Buys 7,478 Shares of Ashland Inc. (NYSE:ASH)

WCM Investment Management LLC grew its stake in Ashland Inc. (NYSE:ASH - Free Report) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,218 shares of the basic materials company's stock after purchasing an additional 7,478 shares during the quarter. WCM Investment Management LLC owned approximately 0.61% of Ashland worth $26,045,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D lifted its holdings in shares of Ashland by 18.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 22,388 shares of the basic materials company's stock valued at $1,947,000 after purchasing an additional 3,472 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Ashland by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company's stock worth $307,000 after acquiring an additional 182 shares during the period. Assetmark Inc. lifted its holdings in Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company's stock worth $47,000 after acquiring an additional 464 shares during the period. Equitable Trust Co. lifted its holdings in Ashland by 2.2% during the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company's stock worth $559,000 after acquiring an additional 141 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Ashland by 33.1% during the third quarter. QRG Capital Management Inc. now owns 14,139 shares of the basic materials company's stock worth $1,230,000 after acquiring an additional 3,513 shares during the period. Institutional investors own 93.95% of the company's stock.

Ashland Price Performance

Ashland stock traded down $2.21 during midday trading on Monday, hitting $78.75. 528,411 shares of the company's stock were exchanged, compared to its average volume of 420,638. Ashland Inc. has a 52-week low of $72.08 and a 52-week high of $102.50. The stock has a 50-day moving average price of $85.75 and a two-hundred day moving average price of $91.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.84 and a current ratio of 2.44. The company has a market cap of $3.85 billion, a P/E ratio of 23.51, a PEG ratio of 1.08 and a beta of 0.88.

Ashland (NYSE:ASH - Get Free Report) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business had revenue of $522.00 million for the quarter, compared to analysts' expectations of $524.07 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Ashland's quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts forecast that Ashland Inc. will post 5.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. upgraded Ashland from an "underweight" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Ashland from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets lowered their target price on Ashland from $105.00 to $92.00 and set a "market perform" rating on the stock in a research note on Friday, August 9th. StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a research note on Friday, September 13th. Finally, UBS Group lowered their target price on Ashland from $116.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.50.

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.