Clearbridge Investments LLC Sells 48,530 Shares of Ashland Inc. (NYSE:ASH)

Clearbridge Investments LLC lessened its stake in Ashland Inc. (NYSE:ASH) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,757,607 shares of the basic materials company’s stock after selling 48,530 shares during the quarter. Clearbridge Investments LLC owned about 3.51% of Ashland worth $166,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Ashland in the first quarter valued at approximately $624,000. Russell Investments Group Ltd. raised its position in shares of Ashland by 56.5% during the first quarter. Russell Investments Group Ltd. now owns 216,102 shares of the basic materials company’s stock worth $21,042,000 after acquiring an additional 78,013 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Ashland during the first quarter valued at $3,480,000. Capstone Investment Advisors LLC boosted its holdings in Ashland by 427.1% in the first quarter. Capstone Investment Advisors LLC now owns 14,928 shares of the basic materials company’s stock valued at $1,454,000 after acquiring an additional 12,096 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in Ashland by 40.0% in the first quarter. First Eagle Investment Management LLC now owns 89,600 shares of the basic materials company’s stock worth $8,724,000 after purchasing an additional 25,600 shares during the period. 93.95% of the stock is owned by institutional investors.

Ashland Price Performance

Shares of ASH opened at $85.95 on Wednesday. The stock has a 50 day simple moving average of $87.97 and a 200 day simple moving average of $93.55. Ashland Inc. has a 52-week low of $70.82 and a 52-week high of $102.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.98. The firm has a market capitalization of $4.31 billion, a PE ratio of 22.80, a P/E/G ratio of 1.07 and a beta of 0.88.

Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Ashland had a net margin of 7.01% and a return on equity of 5.98%. The company had revenue of $544.00 million during the quarter, compared to analysts’ expectations of $577.08 million. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that Ashland Inc. will post 4.55 EPS for the current fiscal year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, August 30th. Ashland’s dividend payout ratio is 42.97%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ASH shares. UBS Group cut their target price on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. BMO Capital Markets reduced their price target on Ashland from $105.00 to $92.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company cut their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.50.

About Ashland

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.