24,027 Shares in Ashland Inc. (NYSE:ASH) Purchased by University of Texas Texas AM Investment Management Co.

Key Points

• The University of Texas Texas A&M Investment Management Co. has acquired a new position in Ashland Inc., purchasing 24,027 shares valued at approximately $1.425 million.
• Ashland recently declared a quarterly dividend of $0.415, increasing from the previous $0.41, resulting in an annualized yield of 3.24%.
• Ashland's stock has seen a 12-month high of $98.44 and a low of $45.21, currently trading at around $51.18.

University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ashland Inc. (NYSE:ASH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 24,027 shares of the basic materials company's stock, valued at approximately $1,425,000. University of Texas Texas AM Investment Management Co. owned about 0.05% of Ashland at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 66,530 shares in the last quarter. Eminence Capital LP boosted its stake in Ashland by 8.0% in the 4th quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company's stock valued at $204,409,000 after purchasing an additional 212,916 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ashland by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,818,695 shares of the basic materials company's stock valued at $201,423,000 after purchasing an additional 44,018 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Ashland by 8.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company's stock worth $200,583,000 after purchasing an additional 208,320 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Ashland by 33.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,291,157 shares of the basic materials company's stock worth $132,383,000 after buying an additional 569,740 shares in the last quarter. Institutional investors own 93.95% of the company's stock.

Ashland Price Performance

Shares of ASH traded down $0.92 during mid-day trading on Thursday, reaching $52.06. The stock had a trading volume of 360,018 shares, compared to its average volume of 659,260. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -2.78, a PEG ratio of 3.00 and a beta of 0.51. 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 business has a fifty day moving average of $51.13 and a 200 day moving average of $55.77. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $98.44.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.11). The business had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.32%. Ashland's revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.49 EPS. Equities analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a $0.415 dividend. The ex-dividend date was Friday, May 30th. This is an increase from Ashland's previous quarterly dividend of $0.41. This represents a $1.66 dividend on an annualized basis and a yield of 3.19%. Ashland's payout ratio is currently -69.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price target on Ashland from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Mizuho set a $60.00 target price on Ashland in a report on Tuesday, April 15th. Wall Street Zen upgraded Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company raised their price target on shares of Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Ashland has an average rating of "Hold" and a consensus target price of $67.40.

Ashland 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.