Ashland Inc. (NYSE:ASH) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its stake in Ashland Inc. (NYSE:ASH - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 497,610 shares of the basic materials company's stock after purchasing an additional 107,653 shares during the quarter. Northern Trust Corp owned about 1.05% of Ashland worth $35,559,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in Ashland during the 3rd quarter worth $38,000. Atala Financial Inc bought a new stake in shares of Ashland in the 4th quarter valued at approximately $56,000. Covestor Ltd lifted its position in shares of Ashland by 80.6% during the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock worth $69,000 after purchasing an additional 428 shares during the last quarter. 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 in the last quarter. Finally, Independence Bank of Kentucky increased its holdings in Ashland by 302.4% in the 4th quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company's stock valued at $106,000 after buying an additional 1,119 shares during the period. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Price Performance

Shares of ASH traded down $0.53 during mid-day trading on Tuesday, reaching $52.27. The stock had a trading volume of 602,285 shares, compared to its average volume of 532,388. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $102.50. The business has a fifty day moving average of $53.35 and a 200 day moving average of $65.58. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -79.20, a PEG ratio of 1.14 and a beta of 0.58.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). The company had revenue of $479.00 million during the quarter, compared to analysts' expectations of $514.79 million. Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the prior year, the business posted $1.27 earnings per share. The company's revenue was down 16.7% compared to the same quarter last year. Equities analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, May 30th. This is a positive change from Ashland's previous quarterly dividend of $0.41. Ashland's payout ratio is presently -69.17%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ASH shares. UBS Group reduced their target price on shares of Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Seaport Res Ptn lowered shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price objective on Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut shares of Ashland from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Ashland currently has a consensus rating of "Hold" and an average target price of $68.60.

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.