Clearbridge Investments LLC Buys 149,483 Shares of Ashland Inc. (NYSE:ASH)

Clearbridge Investments LLC increased its stake in shares of Ashland Inc. (NYSE:ASH) by 9.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,806,137 shares of the basic materials company’s stock after acquiring an additional 149,483 shares during the period. Clearbridge Investments LLC owned about 3.60% of Ashland worth $175,864,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Ashland by 122.4% during the first quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Ashland during the fourth quarter worth approximately $28,000. Hexagon Capital Partners LLC increased its position in Ashland by 143.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after buying an additional 223 shares during the last quarter. CWM LLC increased its position in Ashland by 163.7% during the fourth quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Ashland during the fourth quarter worth approximately $67,000. Institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

Shares of ASH stock traded up $1.06 during trading on Tuesday, hitting $97.34. The company had a trading volume of 455,019 shares, compared to its average volume of 405,489. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 3.15. The firm has a market capitalization of $4.88 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 0.91 and a beta of 0.90. The stock’s 50-day moving average price is $96.98 and its 200 day moving average price is $93.90. Ashland Inc. has a one year low of $70.82 and a one year high of $102.50.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.13. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The firm had revenue of $575.00 million during the quarter, compared to analysts’ expectations of $574.64 million. During the same period in the prior year, the company earned $1.43 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Equities analysts expect that Ashland Inc. will post 4.56 EPS for the current fiscal year.

Ashland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a dividend of $0.405 per share. The ex-dividend date was Friday, May 31st. This is a boost from Ashland’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 1.66%. Ashland’s dividend payout ratio is presently 42.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group boosted their price target on Ashland from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. BMO Capital Markets upped their target price on Ashland from $97.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, May 7th. StockNews.com raised Ashland from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Mizuho upped their target price on Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and an average price target of $107.88.

About Ashland

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.