Ashland Inc. (NYSE:ASH) Stock Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its stake in shares of Ashland Inc. (NYSE:ASH) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,112 shares of the basic materials company’s stock after selling 442 shares during the period. Thrivent Financial for Lutherans’ holdings in Ashland were worth $1,144,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ASH. Quantbot Technologies LP bought a new position in Ashland during the 1st quarter worth approximately $624,000. Russell Investments Group Ltd. boosted its holdings in Ashland by 56.5% in the first quarter. Russell Investments Group Ltd. now owns 216,102 shares of the basic materials company’s stock worth $21,042,000 after purchasing an additional 78,013 shares during the period. Los Angeles Capital Management LLC bought a new stake in Ashland during the first quarter valued at $3,480,000. Capstone Investment Advisors LLC raised its holdings in shares of Ashland by 427.1% during the first quarter. Capstone Investment Advisors LLC now owns 14,928 shares of the basic materials company’s stock worth $1,454,000 after purchasing an additional 12,096 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Ashland by 40.0% in the 1st quarter. First Eagle Investment Management LLC now owns 89,600 shares of the basic materials company’s stock worth $8,724,000 after buying an additional 25,600 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Stock Up 1.3 %

ASH stock opened at $85.59 on Friday. The firm’s 50-day moving average is $87.35 and its two-hundred day moving average is $93.37. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. Ashland Inc. has a 52 week low of $70.82 and a 52 week high of $102.50. The company has a current ratio of 2.98, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45.

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

Ashland Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company decreased their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets lowered their price objective on Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. upgraded 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. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, UBS Group cut their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.