Allianz Asset Management GmbH Sells 6,200 Shares of Ashland Inc. (NYSE:ASH)

Key Points

• Allianz Asset Management GmbH reduced its stake in Ashland Inc. by 59.0%, now holding 4,300 shares valued at $255,000 after selling 6,200 shares in the first quarter.
• Despite a recent 2.0% decline in stock price, Ashland Inc. announced an increased quarterly dividend of $0.415, resulting in an annualized yield of 3.3%.
• Research analysts have varied ratings on Ashland, with a target price range between $53.00 and $74.00, indicating a general "Hold" recommendation with an average target of $67.40.

Allianz Asset Management GmbH trimmed its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 59.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,300 shares of the basic materials company's stock after selling 6,200 shares during the quarter. Allianz Asset Management GmbH's holdings in Ashland were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Auxano Advisors LLC increased its position in shares of Ashland by 52.3% during the first quarter. Auxano Advisors LLC now owns 13,152 shares of the basic materials company's stock valued at $780,000 after buying an additional 4,514 shares during the period. Dynasty Wealth Management LLC purchased a new position in Ashland during the first quarter valued at approximately $245,000. Signaturefd LLC lifted its stake in Ashland by 1,745.8% in the 1st quarter. Signaturefd LLC now owns 1,329 shares of the basic materials company's stock worth $79,000 after purchasing an additional 1,257 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Ashland by 5,452.8% in the 1st quarter. Edgestream Partners L.P. now owns 175,134 shares of the basic materials company's stock valued at $10,384,000 after purchasing an additional 171,980 shares during the period. Finally, CWM LLC boosted its holdings in Ashland by 237.8% in the 1st quarter. CWM LLC now owns 15,551 shares of the basic materials company's stock valued at $922,000 after purchasing an additional 10,948 shares during the period. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Down 2.0%

Shares of NYSE:ASH opened at $50.54 on Monday. The company has a 50-day moving average price of $51.18 and a 200 day moving average price of $55.31. The company has a current ratio of 2.68, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $94.44. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -2.70, a PEG ratio of 3.07 and a beta of 0.49.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). The business had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%. Ashland's revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 earnings per share. As a group, equities research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 30th. This is an increase from Ashland's previous quarterly dividend of $0.41. Ashland's payout ratio is presently -8.86%.

Wall Street Analyst Weigh In

ASH has been the subject of a number of research analyst reports. Mizuho set a $60.00 price target on Ashland in a research report on Tuesday, April 15th. Wells Fargo & Company lifted their target price on shares of Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday. Wall Street Zen raised shares of Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group decreased their price target on shares of Ashland from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $67.40.

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.

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