BNP Paribas Financial Markets Sells 72,235 Shares of Ashland Inc. (NYSE:ASH)

BNP Paribas Financial Markets lessened its holdings in shares of Ashland Inc. (NYSE:ASH) by 87.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,148 shares of the basic materials company’s stock after selling 72,235 shares during the period. BNP Paribas Financial Markets’ holdings in Ashland were worth $725,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its position in shares of Ashland by 323.1% in the 3rd quarter. Barclays PLC now owns 71,689 shares of the basic materials company’s stock valued at $6,236,000 after buying an additional 54,745 shares during the last quarter. SG Americas Securities LLC increased its position in Ashland by 2,060.5% during the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock valued at $12,802,000 after purchasing an additional 170,859 shares during the period. KBC Group NV increased its position in Ashland by 70.9% during the 4th quarter. KBC Group NV now owns 2,066 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 857 shares during the period. Pacer Advisors Inc. raised its holdings in Ashland by 16.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock worth $73,074,000 after purchasing an additional 142,121 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its position in shares of Ashland by 302.4% in the 4th quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 1,119 shares during the period. Institutional investors own 93.95% of the company’s stock.

Ashland Stock Performance

Shares of ASH opened at $50.04 on Friday. Ashland Inc. has a one year low of $45.21 and a one year high of $102.50. The company has a market cap of $2.29 billion, a PE ratio of -75.81, a P/E/G ratio of 1.14 and a beta of 0.58. The stock has a 50-day moving average of $52.40 and a 200-day moving average of $63.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. The firm had revenue of $479.00 million for the quarter, compared to the consensus estimate of $514.79 million. During the same quarter in the prior year, the firm earned $1.27 EPS. The company’s revenue was down 16.7% compared to the same quarter last year. On average, equities research analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.415 per share. This is a boost from Ashland’s previous quarterly dividend of $0.41. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, May 30th. Ashland’s dividend payout ratio (DPR) is currently -69.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ASH shares. UBS Group lowered their target price on shares of Ashland from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company downgraded Ashland from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 1st. Wall Street Zen lowered Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on Ashland from $71.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Finally, Mizuho set a $60.00 price target on Ashland in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Ashland has an average rating of “Hold” and a consensus target price of $68.60.

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.