Edgestream Partners L.P. Purchases 171,980 Shares of Ashland Inc. (NYSE:ASH)

Edgestream Partners L.P. raised its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 5,452.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,134 shares of the basic materials company's stock after buying an additional 171,980 shares during the quarter. Edgestream Partners L.P. owned about 0.37% of Ashland worth $10,384,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of Ashland by 2,736.0% during the first quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 684 shares in the last quarter. UMB Bank n.a. grew its stake in Ashland by 212.4% in the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after purchasing an additional 480 shares during the period. Allworth Financial LP grew its stake in Ashland by 63.9% in the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after purchasing an additional 325 shares during the period. Parallel Advisors LLC grew its stake in Ashland by 285.7% in the first quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after purchasing an additional 677 shares during the period. Finally, Covestor Ltd grew its stake in Ashland by 80.6% in the fourth quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock worth $69,000 after purchasing an additional 428 shares during the period. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Up 2.9%

NYSE:ASH traded up $1.47 during trading hours on Thursday, reaching $52.38. 419,422 shares of the company traded hands, compared to its average volume of 562,539. The business's 50-day moving average price is $51.16 and its two-hundred day moving average price is $56.96. The stock has a market capitalization of $2.39 billion, a P/E ratio of -21.83, a P/E/G ratio of 1.42 and a beta of 0.51. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $98.44. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 0.52.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). Ashland had a negative net margin of 5.74% and a positive return on equity of 7.14%. The company had revenue of $479.00 million for the quarter, compared to analysts' expectations of $514.79 million. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm's quarterly revenue was down 16.7% compared to the same quarter last year. Analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a $0.415 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.66 annualized dividend and a dividend yield of 3.17%. This is a boost from Ashland's previous quarterly dividend of $0.41. Ashland's payout ratio is currently -69.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ASH shares. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group reduced their price target on Ashland from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Mizuho set a $60.00 price target on Ashland in a research note on Tuesday, April 15th. 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 note on Tuesday, May 6th. Finally, Wells Fargo & Company cut Ashland from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.40.

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.