Verition Fund Management LLC Has $556,000 Stock Holdings in Ashland Inc. (NYSE:ASH)

Verition Fund Management LLC reduced its position in shares of Ashland Inc. (NYSE:ASH) by 57.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,389 shares of the basic materials company’s stock after selling 8,685 shares during the period. Verition Fund Management LLC’s holdings in Ashland were worth $556,000 at the end of the most recent reporting period.

Several other large investors 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 approximately $31,000. UMB Bank n.a. increased its holdings in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 251 shares in the last quarter. Assetmark Inc. boosted its stake in Ashland by 610.5% in 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 in the last quarter. Innealta Capital LLC bought a new stake in shares of Ashland during the second quarter worth $71,000. Finally, Quest Partners LLC increased its stake in shares of Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after buying an additional 739 shares in the last quarter. 93.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Ashland

In other news, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value 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 $224,585.70. The trade was a 23.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 $1,107,188.74. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ASH. UBS Group reduced their price target on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. StockNews.com upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets decreased their price target on shares of Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.29.

Ashland Stock Down 0.5 %

Shares of NYSE ASH opened at $75.89 on Wednesday. Ashland Inc. has a 1 year low of $74.89 and a 1 year high of $102.50. The firm’s 50-day moving average is $81.99 and its 200-day moving average is $88.40. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.57 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The business had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. Ashland’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Equities analysts expect that Ashland Inc. will post 4.66 EPS for the current year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.13%. Ashland’s dividend payout ratio is presently 48.36%.

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.