Atala Financial Inc Takes $56,000 Position in Ashland Inc. (NYSE:ASH)

Atala Financial Inc purchased a new position in Ashland Inc. (NYSE:ASH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 780 shares of the basic materials company’s stock, valued at approximately $56,000.

Several other hedge funds have also recently added to or reduced their stakes in ASH. Prospera Private Wealth LLC acquired a new position in shares of Ashland in the 3rd quarter worth $31,000. Versant Capital Management Inc acquired a new stake in shares of Ashland during the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland during the third quarter worth $38,000. Assetmark Inc. raised its position in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ashland during the third quarter worth $72,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASH. JPMorgan Chase & Co. cut their target price on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. BMO Capital Markets boosted their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group dropped their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.00.

Insiders Place Their Bets

In other news, CEO Guillermo Novo bought 31,294 shares of the company’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.02% of the company’s stock.

Ashland Stock Up 1.9 %

NYSE:ASH opened at $57.03 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 1-year low of $55.29 and a 1-year high of $102.50. The business’s fifty day moving average price is $65.38 and its 200 day moving average price is $76.05. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -86.40, a PEG ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period last year, the business earned $0.45 earnings per share. On average, sell-side analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s payout ratio is currently -245.45%.

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.