New York State Teachers Retirement System Reduces Stock Holdings in Ashland Inc. (NYSE:ASH)

New York State Teachers Retirement System decreased its stake in Ashland Inc. (NYSE:ASH) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,271 shares of the basic materials company’s stock after selling 9,200 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Ashland worth $3,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Ashland in the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Ashland in the 3rd quarter worth approximately $38,000. Versant Capital Management Inc purchased a new position in Ashland during the 4th quarter valued at $33,000. Assetmark Inc. boosted its holdings in Ashland by 610.5% during the 3rd 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 period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Ashland during the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo purchased 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ASH shares. Wells Fargo & Company dropped their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. UBS Group dropped their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. BMO Capital Markets boosted their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.57.

Ashland Trading Down 0.8 %

Shares of NYSE ASH opened at $65.50 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $69.01 and a two-hundred day simple moving average of $78.70. The firm has a market cap of $3.09 billion, a PE ratio of -99.24, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Ashland Inc. has a twelve month low of $60.60 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the prior year, the business earned $0.45 EPS. Analysts expect that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, February 28th. Ashland’s payout ratio is -245.45%.

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.