Wealth Enhancement Advisory Services LLC Buys 317 Shares of Ashland Inc. (NYSE:ASH)

Wealth Enhancement Advisory Services LLC grew its stake in Ashland Inc. (NYSE:ASH) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,292 shares of the basic materials company’s stock after purchasing an additional 317 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ashland were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Ashland in the 4th quarter valued at approximately $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Ashland by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,841 shares of the basic materials company’s stock valued at $9,922,000 after purchasing an additional 18,100 shares in the last quarter. Worldquant Millennium Advisors LLC increased its holdings in Ashland by 25.9% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 4,753 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 977 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Ashland by 5.7% during the 4th quarter. Two Sigma Advisers LP now owns 20,500 shares of the basic materials company’s stock valued at $1,465,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Ashland by 18.7% during the 4th quarter. Tidal Investments LLC now owns 24,180 shares of the basic materials company’s stock valued at $1,728,000 after purchasing an additional 3,801 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Up 1.2%

NYSE ASH opened at $50.20 on Tuesday. The stock has a fifty day moving average of $50.83 and a 200-day moving average of $60.35. The stock has a market capitalization of $2.29 billion, a P/E ratio of -76.06, a price-to-earnings-growth ratio of 1.14 and a beta of 0.52. Ashland Inc. has a 52 week low of $45.21 and a 52 week high of $98.99. 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 (NYSE:ASH) last released its earnings results 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). The firm had revenue of $479.00 million during the quarter, compared to analyst estimates of $514.79 million. Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period last year, the business posted $1.27 earnings per share. On average, equities research analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a dividend of $0.415 per share. The ex-dividend date was Friday, May 30th. 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 3.31%. Ashland’s payout ratio is -69.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Ashland from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Mizuho set a $60.00 price target on Ashland in a report on Tuesday, April 15th. Seaport Res Ptn cut Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut Ashland from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Ashland from $71.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.60.

Ashland Company 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.