Quantinno Capital Management LP Grows Holdings in Ashland Inc. (NYSE:ASH)

Quantinno Capital Management LP increased its position in Ashland Inc. (NYSE:ASH - Free Report) by 713.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,505 shares of the basic materials company's stock after purchasing an additional 20,616 shares during the period. Quantinno Capital Management LP's holdings in Ashland were worth $1,680,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Ashland by 323.1% in the 3rd quarter. Barclays PLC now owns 71,689 shares of the basic materials company's stock worth $6,236,000 after purchasing an additional 54,745 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Ashland by 2,060.5% during the fourth quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company's stock valued at $12,802,000 after buying an additional 170,859 shares during the last quarter. KBC Group NV increased its holdings in Ashland by 70.9% in the 4th quarter. KBC Group NV now owns 2,066 shares of the basic materials company's stock worth $148,000 after buying an additional 857 shares in the last quarter. Pacer Advisors Inc. raised its position in Ashland by 16.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company's stock worth $73,074,000 after buying an additional 142,121 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its stake in Ashland by 302.4% during the 4th quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 1,119 shares during the period. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Stock Performance

Shares of ASH traded up $0.85 on Tuesday, reaching $50.15. The company's stock had a trading volume of 32,574 shares, compared to its average volume of 538,691. The stock's 50 day simple moving average is $52.13 and its two-hundred day simple moving average is $63.22. 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 stock has a market capitalization of $2.29 billion, a P/E ratio of -75.82, a PEG ratio of 1.14 and a beta of 0.58. Ashland Inc. has a 12-month low of $45.21 and a 12-month high of $102.50.

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 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 business had revenue of $479.00 million for the quarter, compared to analysts' expectations of $514.79 million. During the same quarter in the prior year, the business earned $1.27 EPS. The company's revenue was down 16.7% compared to the same quarter last year. Research analysts forecast 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. Investors of record on Sunday, June 1st will be given a dividend of $0.415 per share. The ex-dividend date is Friday, May 30th. This is an increase from Ashland's previous quarterly dividend of $0.41. This represents a $1.66 annualized dividend and a yield of 3.31%. Ashland's payout ratio is -69.17%.

Analysts Set New Price Targets

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

About Ashland

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.