BNP Paribas Financial Markets Trims Stake in Ashland Inc. (NYSE:ASH)

BNP Paribas Financial Markets lowered its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,148 shares of the basic materials company's stock after selling 72,235 shares during the period. BNP Paribas Financial Markets' holdings in Ashland were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV acquired a new position in shares of Ashland in the fourth quarter valued at about $505,000. Jane Street Group LLC increased its position in Ashland by 13.9% during the 4th quarter. Jane Street Group LLC now owns 35,889 shares of the basic materials company's stock valued at $2,565,000 after purchasing an additional 4,379 shares during the period. AQR Capital Management LLC increased its position in Ashland by 84.3% during the 4th quarter. AQR Capital Management LLC now owns 275,460 shares of the basic materials company's stock valued at $19,684,000 after purchasing an additional 125,987 shares during the period. Northern Trust Corp increased its holdings in Ashland by 27.6% in the fourth quarter. Northern Trust Corp now owns 497,610 shares of the basic materials company's stock worth $35,559,000 after purchasing an additional 107,653 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Ashland by 28.6% in the 4th quarter. Quarry LP now owns 1,926 shares of the basic materials company's stock worth $138,000 after purchasing an additional 428 shares in the last quarter. Institutional investors own 93.95% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ASH. JPMorgan Chase & Co. cut their price objective on Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Seaport Res Ptn cut Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Wall Street Zen downgraded Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. UBS Group reduced their price target on Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Mizuho set a $60.00 price target on Ashland in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $68.60.

Ashland Stock Performance

ASH traded down $0.23 during midday trading on Wednesday, reaching $50.54. The company had a trading volume of 65,620 shares, compared to its average volume of 538,754. 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 business has a 50-day moving average of $52.03 and a two-hundred day moving average of $63.13. The company has a market cap of $2.31 billion, a P/E ratio of -76.35, a P/E/G ratio of 1.14 and a beta of 0.58. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last released its 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). 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 posted $1.27 EPS. The business's revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, equities research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, May 30th. This is a boost from Ashland's previous quarterly dividend of $0.41. Ashland's dividend payout ratio (DPR) is currently -69.17%.

Ashland Company 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.