Connor Clark & Lunn Investment Management Ltd. Acquires 13,856 Shares of Ashland Inc. (NYSE:ASH)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ashland Inc. (NYSE:ASH) by 44.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,258 shares of the basic materials company’s stock after buying an additional 13,856 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Ashland worth $3,234,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of Ashland in the third quarter valued at about $31,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ashland during the 3rd quarter worth approximately $38,000. Versant Capital Management Inc acquired a new stake in shares of Ashland in the 4th quarter valued at approximately $33,000. Assetmark Inc. boosted its holdings in shares of Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after buying an additional 464 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ashland in the third quarter valued at $72,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ashland

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were acquired 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 owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. BMO Capital Markets lifted 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. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, UBS Group reduced their target price on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.00.

Ashland Stock Up 0.3 %

Ashland stock opened at $57.22 on Tuesday. The company’s 50-day moving average price is $64.83 and its two-hundred day moving average price is $75.41. 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 stock has a market cap of $2.70 billion, a P/E ratio of -86.69, a P/E/G ratio of 1.14 and a beta of 0.89. Ashland Inc. has a twelve month low of $55.29 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period last year, the company posted $0.45 earnings per share. As a group, analysts expect that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, February 28th. Ashland’s payout ratio is -245.45%.

Ashland 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.