Citigroup Inc. Acquires 34,802 Shares of Ashland Inc. (NYSE:ASH)

Citigroup Inc. grew its position in Ashland Inc. (NYSE:ASH) by 465.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,287 shares of the basic materials company’s stock after buying an additional 34,802 shares during the period. Citigroup Inc. owned 0.09% of Ashland worth $3,678,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ASH. Raymond James Trust N.A. raised its position in shares of Ashland by 5.5% in the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 163 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Ashland by 75.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 205,218 shares of the basic materials company’s stock valued at $16,614,000 after purchasing an additional 88,425 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Ashland by 6,127.2% in the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after purchasing an additional 866,320 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Ashland by 12.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after purchasing an additional 284,215 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ashland in the 3rd quarter valued at approximately $2,731,000. 93.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at $224,585.70. The trade was a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Ashland Price Performance

Ashland stock opened at $78.16 on Thursday. The company’s fifty day moving average price is $83.01 and its 200 day moving average price is $89.21. Ashland Inc. has a 1 year low of $75.04 and a 1 year high of $102.50. The stock has a market capitalization of $3.68 billion, a P/E ratio of 23.33, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

Ashland (NYSE:ASH) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. During the same period in the prior year, the business posted $0.41 EPS. Ashland’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Ashland Inc. will post 4.66 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.07%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Wall Street Analysts Forecast Growth

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

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.