Parallel Advisors LLC Increases Stake in Ashland Inc. (NYSE:ASH)

Parallel Advisors LLC boosted its stake in shares of Ashland Inc. (NYSE:ASH) by 285.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 914 shares of the basic materials company’s stock after acquiring an additional 677 shares during the quarter. Parallel Advisors LLC’s holdings in Ashland were worth $54,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Atala Financial Inc acquired a new stake in Ashland in the fourth quarter valued at approximately $56,000. Covestor Ltd grew its holdings in Ashland by 80.6% in the fourth quarter. Covestor Ltd now owns 959 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 428 shares during the period. Assetmark Inc. grew its holdings in Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 454 shares during the period. Headlands Technologies LLC acquired a new stake in Ashland in the fourth quarter valued at approximately $127,000. Finally, Quarry LP boosted its stake in shares of Ashland by 28.6% in the fourth quarter. Quarry LP now owns 1,926 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 428 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Performance

NYSE ASH opened at $50.13 on Monday. The stock’s fifty day moving average is $50.66 and its two-hundred day moving average is $61.49. The firm has a market capitalization of $2.29 billion, a P/E ratio of -75.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $102.50.

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

Ashland Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.415 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.66 dividend on an annualized basis and a yield of 3.31%. This is an increase from Ashland’s previous quarterly dividend of $0.41. Ashland’s payout ratio is currently -69.17%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASH. Wells Fargo & Company lowered Ashland from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 1st. Mizuho set a $60.00 price target on Ashland in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on Ashland from $71.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. UBS Group lowered their price target on Ashland from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.