Cwm LLC Lowers Position in Ashland Inc. (NYSE:ASH)

Cwm LLC lowered its position in shares of Ashland Inc. (NYSE:ASH) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,055 shares of the basic materials company’s stock after selling 196 shares during the period. Cwm LLC’s holdings in Ashland were worth $179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Ashland in the 1st quarter worth approximately $624,000. Russell Investments Group Ltd. lifted its stake in shares of 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 buying an additional 78,013 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in Ashland by 427.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 14,928 shares of the basic materials company’s stock valued at $1,454,000 after purchasing an additional 12,096 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in 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 in the last quarter. Finally, 1832 Asset Management L.P. grew its position in Ashland by 4.2% in the 1st quarter. 1832 Asset Management L.P. now owns 657,010 shares of the basic materials company’s stock worth $63,973,000 after purchasing an additional 26,245 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

Shares of ASH opened at $85.37 on Thursday. 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 stock has a market cap of $4.28 billion, a PE ratio of 22.64, a P/E/G ratio of 1.11 and a beta of 0.88. The firm has a 50-day simple moving average of $86.64 and a two-hundred day simple moving average of $92.41. Ashland Inc. has a 1-year low of $70.82 and a 1-year high of $102.50.

Ashland (NYSE:ASH) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $544.00 million for 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%. Ashland’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 EPS. As a group, analysts forecast that Ashland Inc. will post 4.52 EPS for the current year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 1.90%. Ashland’s dividend payout ratio is currently 42.97%.

Wall Street Analyst Weigh In

ASH has been the topic of a number of analyst reports. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. UBS Group cut their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets cut their price target on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating on the stock in a report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price objective on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ashland currently 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.