Janus Henderson Group PLC lessened its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 72.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 119,617 shares of the basic materials company's stock after selling 307,250 shares during the period. Janus Henderson Group PLC owned about 0.25% of Ashland worth $8,549,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Atala Financial Inc acquired a new position in shares of Ashland during the fourth quarter valued at about $56,000. Covestor Ltd grew its stake in Ashland by 80.6% during the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 428 shares during the last quarter. Assetmark Inc. raised its position in Ashland by 84.1% during the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock worth $71,000 after buying an additional 454 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Ashland by 302.4% during the 4th quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 1,119 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Ashland in the 4th quarter valued at $127,000. Institutional investors own 93.95% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. UBS Group cut their price objective on Ashland from $85.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered shares of Ashland from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Mizuho set a $60.00 price target on Ashland in a research report on Tuesday, April 15th. Finally, Seaport Res Ptn cut shares of Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Ashland currently has a consensus rating of "Hold" and an average target price of $68.60.
View Our Latest Stock Analysis on ASH
Ashland Trading Down 1.5%
Shares of ASH traded down $0.74 during mid-day trading on Friday, reaching $49.30. The stock had a trading volume of 507,348 shares, compared to its average volume of 539,340. Ashland Inc. has a 52-week low of $45.21 and a 52-week high of $102.50. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -74.69, a P/E/G ratio of 1.14 and a beta of 0.58. The business's fifty day moving average is $52.26 and its 200 day moving average is $63.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.
Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $514.79 million. Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. The firm's quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. On average, sell-side analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.
Ashland Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a $0.415 dividend. This is a positive change from Ashland's previous quarterly dividend of $0.41. This represents a $1.66 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, May 30th. Ashland's dividend payout ratio is currently -69.17%.
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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