Hsbc Holdings PLC Boosts Stock Holdings in Ashland Inc. (NYSE:ASH)

Hsbc Holdings PLC boosted its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 709.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,898 shares of the basic materials company's stock after purchasing an additional 98,948 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Ashland worth $8,055,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ASH. Versant Capital Management Inc purchased a new stake in Ashland in the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland in the third quarter worth about $38,000. Atala Financial Inc purchased a new position in Ashland during the 4th quarter valued at approximately $56,000. Covestor Ltd increased its stake in Ashland by 80.6% in the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock worth $69,000 after acquiring an additional 428 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Ashland by 84.1% during the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company's stock worth $71,000 after acquiring an additional 454 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ASH shares. Mizuho set a $60.00 price target on shares of Ashland in a research report on Tuesday, April 15th. StockNews.com cut Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. upgraded Ashland from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $68.00 to $71.00 in a report on Wednesday, March 26th. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, UBS Group cut their price objective on shares of Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $69.40.

Ashland Stock Performance

NYSE:ASH traded up $0.40 during trading hours on Friday, reaching $49.43. The company had a trading volume of 963,811 shares, compared to its average volume of 520,350. The firm has a market cap of $2.33 billion, a PE ratio of -74.89, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $102.50. The business's 50 day moving average price is $54.86 and its 200-day moving average price is $67.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.11). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. The business had revenue of $479.00 million for the quarter, compared to analysts' expectations of $514.79 million. During the same period in the previous year, the company earned $1.27 EPS. Ashland's quarterly revenue was down 16.7% compared to the same quarter last year. Research analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

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.