Nordea Investment Management AB Has $10.06 Million Stock Position in Ashland Inc. (NYSE:ASH)

Nordea Investment Management AB increased its position in shares of Ashland Inc. (NYSE:ASH) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 140,741 shares of the basic materials company’s stock after purchasing an additional 3,027 shares during the quarter. Nordea Investment Management AB’s holdings in Ashland were worth $10,064,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ASH. Prospera Private Wealth LLC acquired a new position in Ashland during the 3rd quarter valued at about $31,000. UMB Bank n.a. raised its stake in shares of Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Ashland during the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Ashland during the 3rd quarter valued at $38,000. Finally, Assetmark Inc. lifted its stake in shares of Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 464 shares during the period. Institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 1.2 %

NYSE:ASH opened at $70.39 on Thursday. The business’s 50-day simple moving average is $76.20 and its 200-day simple moving average is $84.55. Ashland Inc. has a fifty-two week low of $69.25 and a fifty-two week high of $102.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The stock has a market capitalization of $3.32 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87.

Ashland (NYSE:ASH) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Ashland Inc. will post 4.52 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, November 29th. Ashland’s dividend payout ratio is 48.36%.

Analyst Ratings Changes

A number of brokerages recently commented on ASH. BMO Capital Markets lifted their price objective on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their target price on Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Insider Activity

In related news, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the business’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 sale, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

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.