Ashland Inc. (NYSE:ASH) Holdings Cut by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Ashland Inc. (NYSE:ASH) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,417 shares of the basic materials company’s stock after selling 2,959 shares during the quarter. Intech Investment Management LLC’s holdings in Ashland were worth $1,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ashland during the 3rd quarter valued at approximately $2,731,000. Prospera Private Wealth LLC bought a new position in shares of Ashland during the third quarter worth about $31,000. Quest Partners LLC increased its holdings in shares of Ashland by 2,062.6% in the 3rd quarter. Quest Partners LLC now owns 16,176 shares of the basic materials company’s stock worth $1,407,000 after acquiring an additional 15,428 shares during the period. Mutual of America Capital Management LLC lifted its position in Ashland by 3.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 198,810 shares of the basic materials company’s stock valued at $17,291,000 after purchasing an additional 5,913 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Ashland by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 75,575 shares of the basic materials company’s stock valued at $6,573,000 after purchasing an additional 1,012 shares during the period. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on ASH shares. BMO Capital Markets dropped their price target on shares of Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised Ashland from an “underweight” rating to a “neutral” rating and cut their target price for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. UBS Group cut their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company decreased their target price on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.29.

Ashland Price Performance

Shares of NYSE ASH opened at $77.97 on Wednesday. Ashland Inc. has a twelve month low of $75.04 and a twelve month high of $102.50. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $84.05 and a two-hundred day moving average of $90.05. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.14 and a beta of 0.88.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, analysts expect that Ashland Inc. will post 4.82 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.08%. Ashland’s payout ratio is presently 48.36%.

Insider Buying and Selling at Ashland

In other news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.69% of the company’s stock.

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.