Coronation Fund Managers Ltd. Sells 51,740 Shares of Ashland Inc. (NYSE:ASH)

Coronation Fund Managers Ltd. trimmed its stake in Ashland Inc. (NYSE:ASH) by 23.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,850 shares of the basic materials company’s stock after selling 51,740 shares during the period. Coronation Fund Managers Ltd. owned 0.34% of Ashland worth $15,671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after buying an additional 153 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Ashland in the fourth quarter worth $67,000. Innealta Capital LLC bought a new stake in shares of Ashland during the 2nd quarter valued at $71,000. Quest Partners LLC lifted its stake in shares of Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after buying an additional 739 shares in the last quarter. Finally, Ecofi Investissements SA purchased a new stake in Ashland in the 2nd quarter worth $74,000. 93.95% of the stock is owned by institutional investors.

Ashland Trading Down 1.2 %

Shares of NYSE ASH opened at $85.95 on Wednesday. Ashland Inc. has a 1-year low of $70.82 and a 1-year high of $102.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.98 and a quick ratio of 1.84. The business’s 50 day moving average is $87.97 and its two-hundred day moving average is $93.55. The stock has a market capitalization of $4.31 billion, a P/E ratio of 22.80, a PEG ratio of 1.07 and a beta of 0.88.

Ashland (NYSE:ASH) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $544.00 million during the quarter, compared to analysts’ expectations of $577.08 million. Ashland had a return on equity of 5.98% and a net margin of 7.01%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, research analysts expect that Ashland Inc. will post 4.55 EPS for the current year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, August 30th. Ashland’s payout ratio is currently 42.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ASH shares. UBS Group dropped their price objective on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and cut their target price for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. BMO Capital Markets decreased their price target on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company cut their price objective on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.50.

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.