Public Employees Retirement System of Ohio Makes New Investment in Ashland Inc. (NYSE:ASH)

Public Employees Retirement System of Ohio purchased a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,698 shares of the basic materials company's stock, valued at approximately $1,265,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Ashland by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,928,924 shares of the basic materials company's stock worth $352,221,000 after buying an additional 66,530 shares during the period. Eminence Capital LP increased its position in Ashland by 8.0% during the fourth quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company's stock worth $204,409,000 after buying an additional 212,916 shares during the period. Dimensional Fund Advisors LP increased its position in Ashland by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,695 shares of the basic materials company's stock worth $201,423,000 after buying an additional 44,018 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Ashland by 8.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company's stock valued at $200,583,000 after purchasing an additional 208,320 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ashland by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 702,561 shares of the basic materials company's stock valued at $50,205,000 after purchasing an additional 26,267 shares during the period. Institutional investors and hedge funds own 93.95% of the company's stock.

Ashland Price Performance

ASH stock traded up $0.57 on Friday, reaching $50.13. 491,262 shares of the company's stock were exchanged, compared to its average volume of 545,235. The stock has a fifty day moving average of $50.66 and a 200-day moving average of $61.70. Ashland Inc. has a twelve month low of $45.21 and a twelve month high of $102.50. The firm has a market cap of $2.29 billion, a PE ratio of -75.95, a P/E/G ratio of 1.14 and a beta of 0.52. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51.

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 for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. The business had revenue of $479.00 million for the quarter, compared to analyst estimates of $514.79 million. During the same period in the prior year, the company earned $1.27 EPS. The company's revenue was down 16.7% on a year-over-year basis. As a group, equities analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 3.31%. This is an increase 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ASH. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. UBS Group dropped their target price on Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered Ashland from an "overweight" rating to an "equal weight" rating in a 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 report on Tuesday, May 6th. Finally, Mizuho set a $60.00 target price on Ashland in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $68.60.

Ashland Company 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.