Ashland Inc. (NYSE:ASH) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its holdings in shares of Ashland Inc. (NYSE:ASHFree Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,448 shares of the basic materials company’s stock after selling 3,365 shares during the quarter. Nordea Investment Management AB owned about 0.21% of Ashland worth $10,242,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ASH. Envestnet Asset Management Inc. lifted its position in shares of Ashland by 9.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 37,874 shares of the basic materials company’s stock worth $3,094,000 after buying an additional 3,253 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Ashland by 38.4% during the third quarter. Citigroup Inc. now owns 11,027 shares of the basic materials company’s stock worth $901,000 after purchasing an additional 3,058 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Ashland by 94.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,531 shares of the basic materials company’s stock worth $1,350,000 after purchasing an additional 8,019 shares in the last quarter. First Financial Bank Trust Division lifted its holdings in shares of Ashland by 0.7% in the 4th quarter. First Financial Bank Trust Division now owns 69,686 shares of the basic materials company’s stock valued at $5,875,000 after purchasing an additional 478 shares during the last quarter. Finally, Fulton Bank N.A. boosted its position in shares of Ashland by 8.4% in the 4th quarter. Fulton Bank N.A. now owns 3,173 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ASH shares. Wells Fargo & Company upgraded shares of Ashland from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $100.00 to $112.00 in a research report on Thursday, April 11th. UBS Group lifted their price objective on shares of Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. BMO Capital Markets increased their target price on shares of Ashland from $97.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 7th. Mizuho boosted their price target on Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Ashland from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

Check Out Our Latest Analysis on ASH

Ashland Stock Performance

Shares of ASH stock opened at $92.48 on Tuesday. The company has a current ratio of 3.15, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $97.34 and a 200-day simple moving average of $92.99. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 0.89 and a beta of 0.90. Ashland Inc. has a 12-month low of $70.82 and a 12-month high of $102.50.

Ashland (NYSE:ASHGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.13. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The firm had revenue of $575.00 million during the quarter, compared to analysts’ expectations of $574.64 million. During the same quarter in the prior year, the business posted $1.43 earnings per share. Ashland’s revenue was down 4.6% compared to the same quarter last year. On average, equities analysts forecast that Ashland Inc. will post 4.55 EPS for the current year.

Ashland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were given a dividend of $0.405 per share. This is a positive change from Ashland’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, May 31st. Ashland’s dividend payout ratio is presently 42.97%.

Ashland Profile

(Free Report)

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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Institutional Ownership by Quarter for Ashland (NYSE:ASH)

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