Teacher Retirement System of Texas Decreases Position in Ashland Inc. (NYSE:ASH)

Teacher Retirement System of Texas decreased its position in shares of Ashland Inc. (NYSE:ASH) by 75.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,538 shares of the basic materials company’s stock after selling 10,869 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ashland were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. raised its holdings in shares of Ashland by 465.0% during the third quarter. Citigroup Inc. now owns 42,287 shares of the basic materials company’s stock valued at $3,678,000 after purchasing an additional 34,802 shares during the last quarter. BNP Paribas Financial Markets grew its position in Ashland by 88.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,383 shares of the basic materials company’s stock worth $7,165,000 after purchasing an additional 38,692 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ashland by 138.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock valued at $10,501,000 after buying an additional 70,145 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ashland during the 3rd quarter valued at $72,000. Finally, Paloma Partners Management Co purchased a new position in shares of Ashland in the 3rd quarter worth $518,000. Institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 2.7 %

Shares of ASH stock opened at $57.72 on Wednesday. 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 stock has a fifty day simple moving average of $61.98 and a two-hundred day simple moving average of $73.17. The firm has a market capitalization of $2.72 billion, a PE ratio of -87.45, a PEG ratio of 1.14 and a beta of 0.89. Ashland Inc. has a 52-week low of $54.86 and a 52-week high of $102.50.

Ashland (NYSE:ASH) last released its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.45 EPS. On average, analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, February 28th. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Buying and Selling

In other news, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, the chief executive officer now owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASH. BMO Capital Markets boosted their target price on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. UBS Group decreased their target price on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $71.00 in a report on Wednesday, March 26th. Finally, Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ashland has an average rating of “Moderate Buy” and a consensus price target of $85.40.

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.