Fmr LLC Has $803,000 Stake in Ashland Inc. (NYSE:ASH)

Fmr LLC decreased its holdings in Ashland Inc. (NYSE:ASH) by 9.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,229 shares of the basic materials company’s stock after selling 1,005 shares during the quarter. Fmr LLC’s holdings in Ashland were worth $803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Ashland in the third quarter valued at approximately $31,000. UMB Bank n.a. grew its stake in shares of Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after buying an additional 251 shares during the period. Assetmark Inc. raised its holdings in Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the last quarter. Quest Partners LLC increased its holdings in Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 739 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Ashland in the 2nd quarter valued at $71,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now directly owns 14,182 shares of the company’s stock, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at $224,585.70. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

ASH has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price target 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. Finally, StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and an average target price of $102.00.

Ashland Stock Performance

NYSE ASH opened at $73.08 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The company has a fifty day moving average of $80.93 and a 200-day moving average of $87.50. Ashland Inc. has a 52-week low of $72.83 and a 52-week high of $102.50. The company has a market capitalization of $3.44 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.15 and a beta of 0.86.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The business had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. As a group, equities research analysts predict that Ashland Inc. will post 4.52 EPS for the current fiscal year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, November 29th. Ashland’s payout ratio is 48.36%.

Ashland 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.