Corient Private Wealth LLC Reduces Stock Holdings in Ashland Inc. (NYSE:ASH)

Corient Private Wealth LLC cut its holdings in Ashland Inc. (NYSE:ASH) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,930 shares of the basic materials company’s stock after selling 538 shares during the period. Corient Private Wealth LLC’s holdings in Ashland were worth $1,067,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland in the third quarter valued at about $38,000. Versant Capital Management Inc purchased a new stake in Ashland in the 4th quarter valued at approximately $33,000. Atala Financial Inc acquired a new stake in Ashland during the 4th quarter valued at $56,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ashland during the third quarter worth $72,000. Finally, Assetmark Inc. raised its holdings in shares of Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 454 shares during the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms 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 report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Ashland from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $71.00 in a report on Wednesday. Wells Fargo & Company decreased their target price on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Buying and Selling

In other news, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired 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 owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.02% of the company’s stock.

Ashland Stock Up 5.0 %

Shares of Ashland stock opened at $59.79 on Thursday. The company has a fifty day moving average price of $63.01 and a 200 day moving average price of $73.99. 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 twelve month low of $54.86 and a twelve month high of $102.50. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -90.60, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89.

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

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.71%. Ashland’s dividend payout ratio is presently -245.45%.

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.