Handelsbanken Fonder AB Lowers Position in Ashland Inc. (NYSE:ASH)

Handelsbanken Fonder AB trimmed its position in Ashland Inc. (NYSE:ASH) by 95.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the basic materials company’s stock after selling 260,000 shares during the period. Handelsbanken Fonder AB’s holdings in Ashland were worth $1,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ASH. Allspring Global Investments Holdings LLC grew its position in shares of Ashland by 139.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,414,765 shares of the basic materials company’s stock worth $115,558,000 after buying an additional 824,600 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Ashland by 33.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,260,333 shares of the basic materials company’s stock worth $184,624,000 after acquiring an additional 560,916 shares in the last quarter. Atlantic Investment Management Inc. purchased a new stake in Ashland in the third quarter worth about $22,880,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of Ashland by 14.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,953,015 shares of the basic materials company’s stock valued at $159,522,000 after purchasing an additional 248,591 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Ashland by 157.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 198,064 shares of the basic materials company’s stock worth $16,699,000 after purchasing an additional 121,161 shares in the last quarter. Institutional investors own 93.95% of the company’s stock.

Ashland Trading Up 0.9 %

Shares of ASH stock opened at $96.06 on Monday. The company has a market cap of $4.81 billion, a PE ratio of 31.50 and a beta of 0.92. Ashland Inc. has a 1 year low of $70.82 and a 1 year high of $101.94. The stock’s 50 day simple moving average is $95.33 and its two-hundred day simple moving average is $86.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.30 and a quick ratio of 1.88.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, January 31st. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.24. The firm had revenue of $473.00 million during the quarter, compared to analyst estimates of $478.69 million. Ashland had a net margin of 7.62% and a return on equity of 5.95%. The business’s revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. Research analysts predict that Ashland Inc. will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ASH has been the topic of a number of recent research reports. TheStreet raised Ashland from a “c+” rating to a “b-” rating in a research note on Thursday, February 22nd. Wells Fargo & Company raised shares of Ashland from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $112.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. boosted their price target on Ashland from $70.00 to $88.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Wolfe Research began coverage on shares of Ashland in a research note on Friday, March 1st. They set an “outperform” rating and a $108.00 target price on the stock. Finally, Jefferies Financial Group upgraded Ashland from a “hold” rating to a “buy” rating and upped their price target for the stock from $100.00 to $126.00 in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Ashland presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

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.