16,792 Shares in Ashland Inc. (NYSE:ASH) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in shares of Ashland Inc. (NYSE:ASH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,792 shares of the basic materials company’s stock, valued at approximately $1,587,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Ashland by 122.4% during the first quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Ashland during the fourth quarter worth $67,000. Innealta Capital LLC acquired a new stake in Ashland during the second quarter worth $71,000. Quest Partners LLC increased its stake in Ashland by 8,211.1% during the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 739 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Ashland by 45,750.0% during the fourth quarter. TFO Wealth Partners LLC now owns 917 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 1.2 %

NYSE:ASH opened at $85.95 on Wednesday. The firm has a market cap of $4.31 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. The stock has a fifty day moving average price of $87.97 and a 200 day moving average price of $93.55. Ashland Inc. has a 12-month low of $70.82 and a 12-month high of $102.50. The company has a current ratio of 2.98, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $544.00 million during the quarter, compared to the consensus estimate of $577.08 million. Ashland had a return on equity of 5.98% and a net margin of 7.01%. Ashland’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. Sell-side analysts anticipate that Ashland Inc. will post 4.55 earnings per share for the current fiscal year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, August 30th. Ashland’s payout ratio is 42.97%.

Wall Street Analyst Weigh In

ASH has been the subject of several recent analyst reports. UBS Group cut their target price on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. BMO Capital Markets dropped their price objective on Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company dropped their price objective on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised Ashland from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and an average target price of $103.50.

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.