1832 Asset Management L.P. Has $53.18 Million Stock Position in Ashland Inc. (NYSE:ASH)

1832 Asset Management L.P. lowered its stake in shares of Ashland Inc. (NYSE:ASHFree Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 630,765 shares of the basic materials company’s stock after selling 40,007 shares during the period. 1832 Asset Management L.P. owned approximately 1.26% of Ashland worth $53,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ASH. Global Retirement Partners LLC bought a new stake in shares of Ashland during the fourth quarter worth about $28,000. Hexagon Capital Partners LLC grew its position in Ashland by 143.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 223 shares in the last quarter. Covestor Ltd grew its position in Ashland by 338.0% in the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 311 shares in the last quarter. CWM LLC grew its position in Ashland by 163.7% in the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 347 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of Ashland during the 4th quarter valued at approximately $67,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASH. TheStreet raised shares of Ashland from a “c+” rating to a “b-” rating in a research report on Thursday, February 22nd. Mizuho upped their price target on shares of Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Wolfe Research began coverage on shares of Ashland in a research note on Friday, March 1st. They set an “outperform” rating and a $108.00 price target on the stock. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and upped their price target for the company from $100.00 to $126.00 in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

View Our Latest Analysis on Ashland

Ashland Price Performance

NYSE ASH traded up $0.86 during trading hours on Wednesday, reaching $98.81. 295,578 shares of the stock traded hands, compared to its average volume of 417,874. The stock has a 50 day simple moving average of $97.11 and a two-hundred day simple moving average of $90.56. Ashland Inc. has a 1 year low of $70.82 and a 1 year high of $100.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92.

Ashland (NYSE:ASHGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.13. The company had revenue of $575.00 million for the quarter, compared to analysts’ expectations of $574.64 million. Ashland had a return on equity of 5.57% and a net margin of 9.09%. Ashland’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. On average, analysts predict that Ashland Inc. will post 4.47 EPS for the current fiscal year.

Ashland Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, May 31st. This is a boost from Ashland’s previous quarterly dividend of $0.39. Ashland’s dividend payout ratio (DPR) is presently 42.97%.

Ashland Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ashland (NYSE:ASH)

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