US Bancorp DE Reduces Holdings in Ashland Inc. (NYSE:ASH)

US Bancorp DE reduced its holdings in shares of Ashland Inc. (NYSE:ASH) by 26.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,557 shares of the basic materials company’s stock after selling 570 shares during the period. US Bancorp DE’s holdings in Ashland were worth $135,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in shares of Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 251 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after buying an additional 372 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Ashland during the 2nd quarter valued at approximately $71,000. Quest Partners LLC increased its holdings in Ashland by 8,211.1% in the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 739 shares in the last quarter. Finally, Ecofi Investissements SA bought a new stake in Ashland during the 2nd quarter worth approximately $74,000. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Down 1.4 %

NYSE ASH opened at $76.94 on Friday. The stock has a 50 day moving average price of $84.99 and a 200-day moving average price of $90.92. Ashland Inc. has a one year low of $75.90 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The company has a market capitalization of $3.76 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.11 and a beta of 0.88.

Ashland (NYSE:ASH) last released its quarterly earnings data 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). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. During the same quarter last year, the business earned $0.41 EPS. Ashland’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts predict that Ashland Inc. will post 4.82 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.11%. Ashland’s dividend payout ratio is currently 48.36%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ASH shares. Wells Fargo & Company reduced their price objective on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. BMO Capital Markets cut their target price on Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. raised Ashland from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. Finally, UBS Group dropped their price target on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.57.

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.