Ashland Inc. (NYSE:ASH) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Ashland Inc. (NYSE:ASH) by 66.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,618 shares of the basic materials company’s stock after buying an additional 67,980 shares during the period. JPMorgan Chase & Co. owned 0.36% of Ashland worth $14,752,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ASH. Prospera Private Wealth LLC acquired a new stake in Ashland in the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its stake in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Ashland during the 3rd quarter valued at $38,000. Assetmark Inc. boosted its stake in shares of 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 acquiring an additional 464 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 739 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

ASH stock opened at $68.74 on Friday. The firm has a market capitalization of $3.24 billion, a PE ratio of 20.52, a P/E/G ratio of 1.15 and a beta of 0.87. The firm has a 50-day moving average of $75.92 and a two-hundred day moving average of $84.45. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. Ashland Inc. has a one year low of $68.54 and a one year high of $102.50.

Ashland (NYSE:ASH) last released its quarterly earnings data 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 firm had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. During the same period in the previous year, the business posted $0.41 EPS. Ashland’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts forecast that Ashland Inc. will post 4.52 earnings per share for the current year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.36%. Ashland’s payout ratio is presently 48.36%.

Insider Buying and Selling

In related news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the sale, the vice president now owns 14,182 shares of the company’s stock, valued at $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $102.00.

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.