Harbor Capital Advisors Inc. Acquires 36,168 Shares of Ashland Inc. (NYSE:ASH)

Harbor Capital Advisors Inc. boosted its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 30.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,303 shares of the basic materials company's stock after buying an additional 36,168 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.33% of Ashland worth $9,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC increased its position in Ashland by 6.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company's stock valued at $257,000 after buying an additional 211 shares in the last quarter. Boothbay Fund Management LLC raised its position in shares of Ashland by 5.7% during the fourth quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company's stock worth $373,000 after purchasing an additional 284 shares during the period. Xponance Inc. raised its position in shares of Ashland by 5.7% during the fourth quarter. Xponance Inc. now owns 5,613 shares of the basic materials company's stock worth $401,000 after purchasing an additional 301 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ashland by 10.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company's stock worth $235,000 after purchasing an additional 317 shares in the last quarter. Finally, Commerce Bank grew its position in Ashland by 7.4% in the 4th quarter. Commerce Bank now owns 5,042 shares of the basic materials company's stock valued at $360,000 after purchasing an additional 347 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

Ashland Stock Up 2.4%

ASH stock traded up $1.22 during trading on Tuesday, reaching $53.04. The stock had a trading volume of 625,553 shares, compared to its average volume of 546,858. 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 company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -80.37, a P/E/G ratio of 1.14 and a beta of 0.52. Ashland Inc. has a one year low of $45.21 and a one year high of $102.50. The company's 50 day moving average is $50.54 and its two-hundred day moving average is $61.30.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). The business had revenue of $479.00 million for the quarter, compared to the consensus estimate of $514.79 million. Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. The company's revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Equities research analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 3.13%. This is a boost from Ashland's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, May 30th. Ashland's payout ratio is presently -69.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASH. JPMorgan Chase & Co. lowered their price objective 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. Mizuho set a $60.00 price objective on Ashland in a report on Tuesday, April 15th. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Wells Fargo & Company cut Ashland from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Finally, UBS Group lowered their price target on Ashland from $85.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. 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 has an average rating of "Hold" and a consensus 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.