Ashland Inc. (NYSE:ASH) Stake Cut by WCM Investment Management LLC

WCM Investment Management LLC reduced its stake in Ashland Inc. (NYSE:ASH - Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 271,328 shares of the basic materials company's stock after selling 14,160 shares during the period. WCM Investment Management LLC owned 0.58% of Ashland worth $16,011,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ASH. Allspring Global Investments Holdings LLC grew its stake in 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 during the last quarter. Shapiro Capital Management LLC boosted its stake in Ashland by 172.5% during the 4th quarter. Shapiro Capital Management LLC now owns 670,785 shares of the basic materials company's stock valued at $47,934,000 after purchasing an additional 424,595 shares during the period. Raymond James Financial Inc. bought a new position in Ashland in the 4th quarter worth about $28,943,000. Eminence Capital LP increased its stake in shares of Ashland by 8.0% in the fourth 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. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of 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 buying an additional 208,320 shares during the period. 93.95% of the stock is owned by institutional investors.

Ashland Price Performance

NYSE ASH traded up $0.23 on Friday, reaching $53.68. The company's stock had a trading volume of 320,623 shares, compared to its average volume of 556,954. Ashland Inc. has a twelve month low of $45.21 and a twelve month high of $98.44. 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 firm's 50 day moving average is $50.77 and its two-hundred day moving average is $58.04. The stock has a market cap of $2.45 billion, a PE ratio of -22.37, a PEG ratio of 1.50 and a beta of 0.51.

Ashland (NYSE:ASH - Get Free Report) last issued its earnings results 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). The business had revenue of $479.00 million for the quarter, compared to the consensus estimate of $514.79 million. Ashland had a positive return on equity of 7.14% and a negative net margin of 5.74%. The company's quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 earnings per share. As a group, sell-side analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.415 dividend. This is a positive change from Ashland's previous quarterly dividend of $0.41. The ex-dividend date was Friday, May 30th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.09%. Ashland's dividend payout ratio (DPR) is -69.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company cut Ashland from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Mizuho set a $60.00 price objective on shares of Ashland in a report on Tuesday, April 15th. UBS Group lowered their target price on shares of Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. cut their target price on Ashland from $71.00 to $67.00 and set an "overweight" rating for the company 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $68.60.

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.