Squarepoint Ops LLC Reduces Stake in Ashland Inc. $ASH

Key Points

• Squarepoint Ops LLC cut its Ashland stake by 88.6% in the second quarter, selling 47,256 shares and retaining 6,085 shares worth approximately $401,000.
• Institutional investors own 93.95% of Ashland, while several firms initiated or increased positions during the quarter.
• Analysts maintain a generally positive outlook, with seven Buy and five Hold ratings and a consensus price target of $73.90 versus the stock’s reported $69.06 price.

Squarepoint Ops LLC trimmed its stake in Ashland Inc. (NYSE:ASH - Free Report) by 88.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,085 shares of the basic materials company's stock after selling 47,256 shares during the period. Squarepoint Ops LLC's holdings in Ashland were worth $401,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ASH. Global Retirement Partners LLC purchased a new position in shares of Ashland in the 2nd quarter valued at approximately $35,000. GAMMA Investing LLC boosted its holdings in shares of Ashland by 38.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company's stock valued at $66,000 after buying an additional 277 shares in the last quarter. Nykredit A S purchased a new stake in shares of Ashland in the 2nd quarter worth about $85,000. Kimelman & Baird LLC purchased a new position in Ashland during the 2nd quarter valued at about $94,000. Finally, Allworth Financial LP bought a new stake in Ashland during the second quarter worth about $124,000. 93.95% of the stock is owned by institutional investors.

Ashland Stock Performance

ASH stock opened at $69.06 on Tuesday. The stock has a market capitalization of $3.16 billion, a PE ratio of 60.58, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The stock's 50 day simple moving average is $71.64 and its 200 day simple moving average is $62.75. Ashland Inc. has a 12-month low of $46.29 and a 12-month high of $78.25. The company has a current ratio of 3.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.73.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.4%. Ashland's dividend payout ratio is 147.37%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ASH shares. BMO Capital Markets lifted their target price on shares of Ashland from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Weiss Ratings raised Ashland from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Morgan Stanley boosted their target price on Ashland from $58.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Wolfe Research reissued an "outperform" rating on shares of Ashland in a research note on Monday, July 27th. Finally, Wells Fargo & Company raised their price target on Ashland from $50.00 to $70.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ashland has an average rating of "Moderate Buy" and a consensus price target of $73.90.

Ashland Company Profile

Ashland Inc NYSE: ASH is a global specialty materials company that develops and manufactures additives, ingredients and performance solutions for a range of consumer and industrial applications. Its products are designed to improve the performance, stability, texture and functionality of products made by customers in industries such as pharmaceuticals, personal care, coatings, construction, adhesives and specialty chemicals.

The company's portfolio includes cellulose-based and synthetic polymers, vinyl pyrrolidone-based products, specialty additives, pharmaceutical excipients, personal care ingredients and water-based technologies.

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