The Manufacturers Life Insurance Company Trims Position in Ashland Inc. (NYSE:ASH)

The Manufacturers Life Insurance Company decreased its position in Ashland Inc. (NYSE:ASH) by 6.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,924 shares of the basic materials company’s stock after selling 2,596 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Ashland worth $3,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in shares of Ashland during the 3rd quarter valued at about $31,000. UMB Bank n.a. raised its stake in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 251 shares during the period. Assetmark Inc. lifted its holdings in Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 464 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Ashland by 133.8% in the second quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 372 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Ashland in the second quarter worth $71,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ashland

In related news, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the sale, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. The trade was a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ASH shares. StockNews.com upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets decreased 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. Finally, UBS Group reduced their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.29.

Ashland Price Performance

Shares of ASH stock opened at $75.49 on Friday. The firm’s 50-day moving average is $82.41 and its two-hundred day moving average is $88.80. Ashland Inc. has a 12 month low of $75.04 and a 12 month high of $102.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The company has a market capitalization of $3.56 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share 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 for the quarter, compared to analyst estimates of $524.07 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Ashland’s revenue was up .8% on a year-over-year basis. Analysts predict that Ashland Inc. will post 4.66 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently declared 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. This represents a $1.62 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Ashland 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.