Quantbot Technologies LP bought a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 53,889 shares of the basic materials company's stock, valued at approximately $3,551,000. Quantbot Technologies LP owned 0.12% of Ashland at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ASH. Royal Bank of Canada increased its stake in Ashland by 18.7% during the 1st quarter. Royal Bank of Canada now owns 46,306 shares of the basic materials company's stock worth $2,747,000 after acquiring an additional 7,309 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Ashland by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company's stock valued at $226,000 after acquiring an additional 225 shares during the period. Millennium Management LLC grew its holdings in shares of Ashland by 49.4% during the 1st quarter. Millennium Management LLC now owns 284,454 shares of the basic materials company's stock worth $16,865,000 after purchasing an additional 94,067 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ashland by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 387,132 shares of the basic materials company's stock worth $22,953,000 after purchasing an additional 6,245 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Ashland by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 152,830 shares of the basic materials company's stock worth $9,061,000 after purchasing an additional 13,989 shares during the period. 93.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently weighed in on ASH shares. Morgan Stanley upped their price objective on shares of Ashland from $58.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Wells Fargo & Company raised their target price on shares of Ashland from $50.00 to $70.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Mizuho boosted their target price on shares of Ashland from $75.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Ashland from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets upped their price target on shares of Ashland from $68.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.90.
Read Our Latest Report on ASH
Ashland Price Performance
Shares of ASH stock opened at $72.97 on Monday. The company has a quick ratio of 1.89, a current ratio of 3.05 and a debt-to-equity ratio of 0.73. Ashland Inc. has a twelve month low of $46.29 and a twelve month high of $78.25. The company has a market cap of $3.34 billion, a P/E ratio of 64.01, a P/E/G ratio of 1.75 and a beta of 0.40. The business has a fifty day simple moving average of $68.88 and a 200 day simple moving average of $61.29.
Ashland Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 1st. Ashland's dividend payout ratio is currently 147.37%.
About Ashland
(
Free Report)
Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.
Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.
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