Deprince Race & Zollo Inc. Cuts Stock Holdings in Ashland Inc. (NYSE:ASH)

Deprince Race & Zollo Inc. decreased its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 24.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 574,627 shares of the basic materials company's stock after selling 188,884 shares during the quarter. Deprince Race & Zollo Inc. owned about 1.22% of Ashland worth $41,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Ashland in the fourth quarter valued at $28,943,000. Eminence Capital LP boosted its stake in Ashland by 8.0% in the fourth quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company's stock worth $204,409,000 after buying an additional 212,916 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Ashland by 8.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company's stock valued at $200,583,000 after acquiring an additional 208,320 shares during the last quarter. Boston Partners raised its stake in shares of Ashland by 47.1% during the fourth quarter. Boston Partners now owns 577,633 shares of the basic materials company's stock worth $41,247,000 after acquiring an additional 184,954 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Ashland by 2,060.5% in the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company's stock valued at $12,802,000 after purchasing an additional 170,859 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Trading Down 1.6%

Shares of ASH traded down $0.82 during trading hours on Tuesday, reaching $51.98. 248,101 shares of the company traded hands, compared to its average volume of 529,591. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $102.50. 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 company's fifty day moving average price is $53.35 and its two-hundred day moving average price is $65.58. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -78.76, a price-to-earnings-growth ratio of 1.14 and a beta of 0.58.

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

Ashland Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a $0.415 dividend. This represents a $1.66 annualized dividend and a yield of 3.19%. This is an increase from Ashland's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, May 30th. Ashland's payout ratio is -69.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com cut Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered Ashland from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price objective on Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Mizuho set a $60.00 target price on shares of Ashland in a report on Tuesday, April 15th. Finally, UBS Group lowered their price target on shares of Ashland from $85.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Ashland currently has an average rating of "Hold" and a consensus target price 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.