Intech Investment Management LLC Sells 5,859 Shares of Ashland Inc. (NYSE:ASH)

Intech Investment Management LLC reduced its holdings in Ashland Inc. (NYSE:ASH) by 43.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,558 shares of the basic materials company’s stock after selling 5,859 shares during the period. Intech Investment Management LLC’s holdings in Ashland were worth $540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Trust N.A. lifted its stake in shares of 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 during the period. Vontobel Holding Ltd. lifted its stake in Ashland by 11.4% in the fourth quarter. Vontobel Holding Ltd. now owns 3,541 shares of the basic materials company’s stock valued at $253,000 after buying an additional 362 shares during the period. Synovus Financial Corp lifted its stake in Ashland by 11.2% in the third quarter. Synovus Financial Corp now owns 3,964 shares of the basic materials company’s stock valued at $345,000 after buying an additional 400 shares during the period. Victory Capital Management Inc. boosted its holdings in Ashland by 2.8% during the fourth quarter. Victory Capital Management Inc. now owns 15,429 shares of the basic materials company’s stock worth $1,103,000 after buying an additional 417 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Ashland during the 3rd quarter worth about $38,000. 93.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the acquisition, the chief executive officer now owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company reduced 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, January 30th. Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. UBS Group decreased their target price on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.00.

Ashland Stock Up 1.4 %

ASH stock opened at $57.24 on Tuesday. 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 stock has a market capitalization of $2.70 billion, a P/E ratio of -86.72, a P/E/G ratio of 1.14 and a beta of 0.89. Ashland Inc. has a fifty-two week low of $54.86 and a fifty-two week high of $102.50. The business has a 50-day moving average of $63.47 and a 200-day moving average of $74.29.

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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period last year, the company posted $0.45 EPS. On average, sell-side analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.83%. 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.