Barclays PLC lifted its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 323.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,689 shares of the basic materials company's stock after buying an additional 54,745 shares during the period. Barclays PLC owned approximately 0.15% of Ashland worth $6,236,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Equitable Trust Co. grew its stake in shares of Ashland by 2.2% in the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company's stock worth $559,000 after acquiring an additional 141 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Ashland by 2.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,295 shares of the basic materials company's stock worth $681,000 after purchasing an additional 149 shares during the period. Raymond James Trust N.A. raised its stake in Ashland by 5.5% during the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company's stock valued at $270,000 after buying an additional 163 shares during the last quarter. Creative Planning lifted its holdings in shares of Ashland by 3.8% during the 2nd quarter. Creative Planning now owns 4,867 shares of the basic materials company's stock valued at $460,000 after buying an additional 176 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Ashland by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company's stock worth $307,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company's stock.
Ashland stock opened at $71.95 on Friday. Ashland Inc. has a 12-month low of $71.70 and a 12-month high of $102.50. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.15 and a beta of 0.86. The firm has a 50 day moving average of $80.44 and a 200 day moving average of $87.29. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47.
Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.02). The firm had revenue of $522.00 million during the quarter, compared to analysts' expectations of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. As a group, research analysts predict that Ashland Inc. will post 4.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, November 29th. Ashland's dividend payout ratio is currently 48.36%.
A number of research analysts have weighed in on ASH shares. Wells Fargo & Company lowered their target price on Ashland from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, December 11th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $102.00.
View Our Latest Research Report on Ashland
In related news, VP Eric N. Boni sold 451 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the sale, the vice president now directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the transaction, the senior vice president now directly owns 2,883 shares of the company's stock, valued at approximately $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. 1.02% of the stock is owned by corporate insiders.
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.
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