Choreo LLC Takes $320,000 Position in Ashland Inc. (NYSE:ASH)

Choreo LLC acquired a new position in shares of Ashland Inc. (NYSE:ASH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,514 shares of the basic materials company’s stock, valued at approximately $320,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Ashland in the third quarter valued at $31,000. Wilmington Savings Fund Society FSB acquired a new position in Ashland during the 3rd quarter worth $38,000. Versant Capital Management Inc purchased a new stake in Ashland during the 4th quarter worth about $33,000. Assetmark Inc. lifted its holdings in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ashland in the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Insider Activity

In other news, CEO Guillermo Novo bought 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction that occurred 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. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Ashland Stock Up 1.4 %

Shares of Ashland stock opened at $64.98 on Friday. The business has a 50-day moving average of $69.97 and a 200-day moving average of $79.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The company has a market capitalization of $3.07 billion, a PE ratio of -98.45, a P/E/G ratio of 1.14 and a beta of 0.86. Ashland Inc. has a 1-year low of $60.60 and a 1-year high of $102.50.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 company earned $0.45 earnings per share. As a group, equities analysts forecast that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.405 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.49%. Ashland’s dividend payout ratio is currently -245.45%.

Analyst Ratings Changes

Several research firms have recently weighed in on ASH. JPMorgan Chase & Co. reduced their target price on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. 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, January 29th. Finally, BMO Capital Markets increased their price target on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company 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.