Principal Financial Group Inc. Reduces Position in Ashland Inc. (NYSE:ASH)

Principal Financial Group Inc. reduced its position in shares of Ashland Inc. (NYSE:ASH) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,985 shares of the basic materials company’s stock after selling 1,257 shares during the period. Principal Financial Group Inc. owned about 0.24% of Ashland worth $8,002,000 at the end of the most recent reporting period.

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

Insider Activity at Ashland

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

Ashland Stock Performance

Shares of ASH opened at $60.72 on Friday. Ashland Inc. has a 1 year low of $60.51 and a 1 year high of $102.50. The stock has a market capitalization of $2.87 billion, a P/E ratio of -92.00, a P/E/G ratio of 1.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The company’s fifty day moving average is $67.82 and its two-hundred day moving average is $77.75.

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

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.67%. Ashland’s dividend payout ratio is currently -245.45%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ASH shares. Wells Fargo & Company dropped their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. BMO Capital Markets increased their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. UBS Group dropped their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com lowered 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 four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.50.

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.