Ashland Inc. (NYSE:ASH) Stake Lowered by VELA Investment Management LLC

VELA Investment Management LLC decreased its position in shares of Ashland Inc. (NYSE:ASH - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,496 shares of the basic materials company's stock after selling 14,032 shares during the period. Ashland comprises 1.6% of VELA Investment Management LLC's investment portfolio, making the stock its 11th biggest position. VELA Investment Management LLC owned approximately 0.10% of Ashland worth $4,173,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of Ashland in the 4th quarter valued at about $28,000. Quarry LP purchased a new position in shares of Ashland in the 2nd quarter valued at about $31,000. Covestor Ltd increased its holdings in shares of Ashland by 338.0% in the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 311 shares during the last quarter. KB Financial Partners LLC purchased a new position in shares of Ashland in the 1st quarter valued at about $35,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Ashland in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 93.95% of the company's stock.

Ashland Stock Performance

Ashland stock traded down $1.66 during mid-day trading on Monday, reaching $93.57. 361,885 shares of the company were exchanged, compared to its average volume of 458,078. Ashland Inc. has a twelve month low of $70.82 and a twelve month high of $105.15. The firm's 50-day simple moving average is $94.62 and its two-hundred day simple moving average is $85.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.88 and a current ratio of 3.30. The firm has a market cap of $4.69 billion, a PE ratio of 30.68 and a beta of 0.92.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.24. Ashland had a return on equity of 5.95% and a net margin of 7.62%. The company had revenue of $473.00 million during the quarter, compared to analysts' expectations of $478.69 million. During the same period last year, the firm earned $0.97 EPS. The firm's revenue for the quarter was down 9.9% on a year-over-year basis. Equities analysts predict that Ashland Inc. will post 4.33 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.385 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.54 annualized dividend and a dividend yield of 1.65%. Ashland's dividend payout ratio is currently 50.49%.

Wall Street Analyst Weigh In

ASH has been the topic of a number of recent analyst reports. TheStreet upgraded Ashland from a "c+" rating to a "b-" rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. increased their price objective on Ashland from $70.00 to $88.00 and gave the company an "underweight" rating in a report on Thursday, February 1st. Wells Fargo & Company raised Ashland from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $100.00 to $112.00 in a research report on Thursday. Jefferies Financial Group raised Ashland from a "hold" rating to a "buy" rating and upped their target price for the company from $100.00 to $126.00 in a research report on Thursday, March 14th. Finally, StockNews.com raised Ashland from a "sell" rating to a "hold" rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.00.

Ashland Company 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.