Asset Dedication LLC Decreases Stake in Ashland Inc. (NYSE:ASH)

Asset Dedication LLC cut its stake in Ashland Inc. (NYSE:ASH) by 34.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 445 shares of the basic materials company’s stock after selling 229 shares during the period. Asset Dedication LLC’s holdings in Ashland were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ASH. Equitable Trust Co. increased its stake in Ashland by 2.2% during the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after acquiring an additional 141 shares during the last quarter. Raymond James Trust N.A. raised its position in Ashland by 5.5% in the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 163 shares in the last quarter. Creative Planning lifted its stake in Ashland by 3.8% in the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 176 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Ashland by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 182 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of Ashland by 16.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,677 shares of the basic materials company’s stock worth $146,000 after acquiring an additional 237 shares in the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Performance

Shares of NYSE:ASH opened at $63.77 on Friday. The business has a 50-day moving average of $72.88 and a two-hundred day moving average of $81.96. The firm has a market capitalization of $3.00 billion, a PE ratio of 19.04, a P/E/G ratio of 1.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. Ashland Inc. has a 12 month low of $62.84 and a 12 month high of $102.50.

Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a return on equity of 7.43% and a net margin of 7.95%. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, research analysts forecast that Ashland Inc. will post 4.31 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, February 28th. Ashland’s payout ratio is currently -245.45%.

Insider Activity at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the sale, the vice president now directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ASH has been the topic of a number of research analyst reports. UBS Group cut their target price on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets raised their target price on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price target on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ashland has a consensus rating of “Moderate Buy” and a consensus target price of $95.57.

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.