Institute for Wealth Management LLC. purchased a new stake in shares of Ashland Inc. (NYSE:ASH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,219 shares of the basic materials company's stock, valued at approximately $369,000.
Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Ashland by 212.4% during the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock valued at $42,000 after buying an additional 480 shares during the period. Farther Finance Advisors LLC raised its position in 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 buying an additional 684 shares during the period. Atala Financial Inc acquired a new position in Ashland during the fourth quarter valued at $56,000. Parallel Advisors LLC increased its position in Ashland by 285.7% in the 1st 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 last quarter. Finally, Covestor Ltd increased its position in Ashland by 80.6% in the 4th 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 last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.
Ashland Stock Up 2.7%
Shares of NYSE ASH traded up $1.32 during mid-day trading on Monday, reaching $50.11. 631,821 shares of the company traded hands, compared to its average volume of 550,969. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a market cap of $2.29 billion, a PE ratio of -20.88, a price-to-earnings-growth ratio of 1.36 and a beta of 0.52. The company's fifty day moving average is $50.67 and its two-hundred day moving average is $59.35. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $98.99.
Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $479.00 million for the quarter, compared to analyst estimates of $514.79 million. Ashland had a negative net margin of 5.74% and a positive return on equity of 7.14%. The business's revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 EPS. On average, analysts expect that Ashland Inc. will post 4.27 earnings per share for the current year.
Ashland Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a dividend of $0.415 per share. This is a positive change from Ashland's previous quarterly dividend of $0.41. The ex-dividend date was Friday, May 30th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.31%. Ashland's dividend payout ratio is currently -69.17%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on ASH. Wells Fargo & Company lowered Ashland from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Mizuho set a $60.00 target price on Ashland in a research report on Tuesday, April 15th. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, UBS Group dropped their target price on Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.60.
Get Our Latest Stock Analysis on ASH
Ashland Profile
(
Free Report)
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.
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