Central Pacific Bank Trust Division Purchases 237 Shares of Ashland Inc. (NYSE:ASH)

Central Pacific Bank Trust Division increased its position in shares of Ashland Inc. (NYSE:ASH) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,677 shares of the basic materials company’s stock after acquiring an additional 237 shares during the period. Central Pacific Bank Trust Division’s holdings in Ashland were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its stake in Ashland by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 21,035 shares of the basic materials company’s stock valued at $1,773,000 after buying an additional 210 shares during the period. Quadrature Capital Ltd grew its holdings in shares of Ashland by 167.3% during the fourth quarter. Quadrature Capital Ltd now owns 39,253 shares of the basic materials company’s stock worth $3,311,000 after purchasing an additional 24,569 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Ashland in the fourth quarter worth approximately $67,000. Los Angeles Capital Management LLC purchased a new stake in Ashland in the first quarter valued at approximately $3,480,000. Finally, GAMMA Investing LLC lifted its position in Ashland by 122.4% during the first quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. 93.95% of the stock is owned by institutional investors.

Ashland Stock Up 1.3 %

NYSE ASH opened at $85.59 on Friday. Ashland Inc. has a 1 year low of $70.82 and a 1 year high of $102.50. The stock has a market capitalization of $4.29 billion, a PE ratio of 22.70, a PEG ratio of 1.07 and a beta of 0.88. 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 $87.35 and its 200 day moving average is $93.37.

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

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 1.89%. Ashland’s payout ratio is 42.97%.

Wall Street Analysts Forecast Growth

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

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.