Deutsche Bank AG Buys Shares of 83,987 Ashland Inc. $ASH

Key Points

• Deutsche Bank acquired 83,987 Ashland shares worth approximately $5.5 million, giving it a 0.18% stake. Institutional investors collectively own 93.95% of the company.
• Analyst sentiment is positive, with seven Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $73.90.
• Ashland shares recently traded at $73.70, near their 12-month high, while the company declared a quarterly dividend of $0.42 per share, equivalent to a 2.3% annual yield.

Deutsche Bank AG purchased a new stake in Ashland Inc. (NYSE:ASH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 83,987 shares of the basic materials company's stock, valued at approximately $5,534,000. Deutsche Bank AG owned 0.18% of Ashland at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ASH. AQR Capital Management LLC increased its stake in Ashland by 284.3% during the second quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company's stock worth $172,318,000 after acquiring an additional 2,555,585 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Ashland by 13,240.8% in the 4th quarter. Franklin Resources Inc. now owns 1,736,173 shares of the basic materials company's stock valued at $101,861,000 after purchasing an additional 1,723,159 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Ashland by 775.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,900,000 shares of the basic materials company's stock worth $111,473,000 after purchasing an additional 1,682,994 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Ashland during the 2nd quarter worth about $105,471,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Ashland by 1,080,682.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,437,440 shares of the basic materials company's stock valued at $84,335,000 after buying an additional 1,437,307 shares during the period. Hedge funds and other institutional investors own 93.95% of the company's stock.

Analyst Upgrades and Downgrades

ASH has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of Ashland from $75.00 to $83.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Seaport Research Partners upgraded shares of Ashland from a "neutral" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Wednesday, May 6th. Zacks Research upgraded shares of Ashland from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. Wolfe Research reissued an "outperform" rating on shares of Ashland in a research report on Monday, July 27th. Finally, BMO Capital Markets upped their price target on Ashland from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.90.

Ashland Price Performance

Ashland stock opened at $73.70 on Tuesday. The company has a current ratio of 3.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $69.05 and a 200-day simple moving average of $61.38. The stock has a market cap of $3.38 billion, a P/E ratio of 64.65, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40. Ashland Inc. has a 12-month low of $46.29 and a 12-month high of $78.25.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Ashland's payout ratio is 147.37%.

Ashland Company Profile

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

Want to see what other hedge funds are holding ASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ashland Inc. (NYSE:ASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source