Balyasny Asset Management L.P. Invests $2.91 Million in Ashland Inc. (NYSE:ASH)

Balyasny Asset Management L.P. bought a new stake in Ashland Inc. (NYSE:ASH - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 40,656 shares of the basic materials company's stock, valued at approximately $2,905,000. Balyasny Asset Management L.P. owned about 0.09% of Ashland at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC grew its position in shares of Ashland by 6.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company's stock valued at $257,000 after buying an additional 211 shares during the last quarter. Boothbay Fund Management LLC grew its position in shares of Ashland by 5.7% in the 4th quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company's stock valued at $373,000 after buying an additional 284 shares during the last quarter. Xponance Inc. grew its position in shares of Ashland by 5.7% in the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company's stock valued at $401,000 after buying an additional 301 shares during the last quarter. Commerce Bank grew its position in shares of Ashland by 7.4% in the 4th quarter. Commerce Bank now owns 5,042 shares of the basic materials company's stock valued at $360,000 after buying an additional 347 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Ashland by 11.4% in the 4th quarter. Vontobel Holding Ltd. now owns 3,541 shares of the basic materials company's stock valued at $253,000 after buying an additional 362 shares during the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Stock Performance

Shares of ASH stock traded up $1.11 during mid-day trading on Friday, hitting $52.77. The stock had a trading volume of 506,721 shares, compared to its average volume of 537,882. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $102.50. The firm has a market cap of $2.41 billion, a PE ratio of -79.95, a PEG ratio of 1.14 and a beta of 0.58. 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 company's 50-day simple moving average is $52.87 and its 200-day simple moving average is $64.77.

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

Ashland Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.415 dividend. This represents a $1.66 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from Ashland's previous quarterly dividend of $0.41. Ashland's dividend payout ratio (DPR) is -69.17%.

Analyst Ratings Changes

ASH has been the topic of a number of recent analyst reports. Mizuho set a $60.00 target price on shares of Ashland in a research report on Tuesday, April 15th. Wells Fargo & Company cut shares of Ashland from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. 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. decreased their price target on shares of Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Seaport Res Ptn cut shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Ashland currently has a consensus rating of "Hold" and an average price target of $68.60.

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.