Silvercrest Asset Management Group LLC Makes New Investment in Ashland Inc. (NYSE:ASH)

Silvercrest Asset Management Group LLC acquired a new position in shares of Ashland Inc. (NYSE:ASH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,344 shares of the basic materials company’s stock, valued at approximately $228,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake 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 bought a new stake in shares of Ashland during the fourth quarter worth $28,000. Hexagon Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 223 shares during the last quarter. CWM LLC grew its holdings in shares of 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 purchasing an additional 347 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Ashland during the fourth quarter worth $67,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASH. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. UBS Group raised their target price on Ashland from $114.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised Ashland from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $112.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets increased their target price on shares of Ashland from $97.00 to $105.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

Ashland Price Performance

Shares of ASH opened at $96.65 on Thursday. The firm has a market capitalization of $4.85 billion, a PE ratio of 25.64, a PEG ratio of 0.92 and a beta of 0.90. The company’s 50-day moving average is $96.61 and its 200-day moving average is $94.40. Ashland Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $102.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94.

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

Ashland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Ashland’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, May 31st. Ashland’s dividend payout ratio (DPR) is currently 42.97%.

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.