Barclays PLC Increases Holdings in Ashland Inc. (NYSE:ASH)

Barclays PLC raised its stake in Ashland Inc. (NYSE:ASH - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,422 shares of the basic materials company's stock after buying an additional 21,733 shares during the period. Barclays PLC owned about 0.20% of Ashland worth $6,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new stake in Ashland during the third quarter worth $38,000. Versant Capital Management Inc purchased a new position in shares of Ashland in the 4th quarter valued at $33,000. Atala Financial Inc purchased a new position in shares of Ashland in the 4th quarter valued at $56,000. Covestor Ltd increased its holdings in shares of Ashland by 80.6% in the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 428 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 93.95% of the company's stock.

Insiders Place Their Bets

In other news, CEO Guillermo Novo acquired 31,294 shares of the business's stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

Ashland Price Performance

NYSE ASH traded up $0.90 during trading hours on Wednesday, reaching $54.38. The company's stock had a trading volume of 911,126 shares, compared to its average volume of 516,457. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -82.39, a P/E/G ratio of 1.14 and a beta of 0.70. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $102.50. 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 moving average is $55.18 and its two-hundred day moving average is $67.89.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was down 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share. On average, equities analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ASH. Mizuho set a $60.00 price target on Ashland in a report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded Ashland from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $71.00 in a research note on Wednesday, March 26th. UBS Group dropped their target price on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on Ashland from $69.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.20.

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.