Sei Investments Co. Decreases Stock Position in Ashland Inc. (NYSE:ASH)

Sei Investments Co. trimmed its position in shares of Ashland Inc. (NYSE:ASH) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,405 shares of the basic materials company’s stock after selling 7,717 shares during the period. Sei Investments Co.’s holdings in Ashland were worth $5,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASH. Harbor Capital Advisors Inc. grew its stake in shares of Ashland by 105.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock valued at $8,513,000 after acquiring an additional 61,058 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ashland by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company’s stock valued at $36,964,000 after purchasing an additional 7,709 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Ashland by 138.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock worth $10,501,000 after purchasing an additional 70,145 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ashland by 66.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock valued at $14,752,000 after purchasing an additional 67,980 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Ashland by 703.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock valued at $13,206,000 after buying an additional 161,812 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

ASH opened at $57.72 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $61.98 and its 200 day moving average price is $73.17. Ashland Inc. has a fifty-two week low of $54.86 and a fifty-two week high of $102.50. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -87.45, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last announced its quarterly earnings results 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.81%. Ashland’s dividend payout ratio is currently -245.45%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ASH shares. BMO Capital Markets lifted their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of Ashland from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ashland has a consensus rating of “Moderate Buy” and an average target price of $85.40.

Insider Buying and Selling

In other news, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $64.24 per share, for a total transaction 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. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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.