WCM Investment Management LLC Sells 14,160 Shares of Ashland Inc. (NYSE:ASH)

WCM Investment Management LLC reduced its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of Ashland by 212.4% in the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after buying an additional 480 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after purchasing an additional 684 shares during the period. Atala Financial Inc acquired a new position in Ashland in the 4th quarter valued at approximately $56,000. Parallel Advisors LLC boosted its stake in Ashland by 285.7% during the first quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after buying an additional 677 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Ashland by 80.6% during the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock valued at $69,000 after acquiring an additional 428 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Trading Up 0.1%

Shares of NYSE:ASH traded up $0.03 during midday trading on Thursday, hitting $53.48. The company had a trading volume of 134,351 shares, compared to its average volume of 553,936. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 0.52. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $98.44. The firm has a fifty day simple moving average of $50.76 and a 200 day simple moving average of $58.41. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -22.25, a PEG ratio of 1.46 and a beta of 0.51.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.11). The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $514.79 million. Ashland had a negative net margin of 5.74% and a positive return on equity of 7.14%. The company's quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. On average, analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a dividend of $0.415 per share. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from Ashland's previous quarterly dividend of $0.41. This represents a $1.66 annualized dividend and a yield of 3.10%. Ashland's payout ratio is currently -69.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ASH. Seaport Res Ptn cut Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wall Street Zen raised shares of Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Wells Fargo & Company downgraded Ashland from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 1st. Mizuho set a $60.00 target price on Ashland in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped 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 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, Ashland currently 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.