Allworth Financial LP Has $49,000 Stake in Ashland Inc. (NYSE:ASH)

Allworth Financial LP increased its stake in shares of Ashland Inc. (NYSE:ASH) by 63.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 834 shares of the basic materials company’s stock after purchasing an additional 325 shares during the quarter. Allworth Financial LP’s holdings in Ashland were worth $49,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ASH. Integrated Wealth Concepts LLC increased its holdings in Ashland by 6.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock worth $257,000 after buying an additional 211 shares during the last quarter. Boothbay Fund Management LLC grew its position in Ashland by 5.7% in the fourth quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 284 shares in the last quarter. Xponance Inc. increased its stake in shares of Ashland by 5.7% during the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock worth $401,000 after purchasing an additional 301 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ashland by 10.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 317 shares in the last quarter. Finally, Commerce Bank raised its holdings in shares of Ashland by 7.4% during the 4th quarter. Commerce Bank now owns 5,042 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 347 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Stock Performance

Shares of NYSE ASH opened at $51.01 on Friday. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $98.44. The company has a market cap of $2.33 billion, a P/E ratio of -21.25, a P/E/G ratio of 1.46 and a beta of 0.51. The business’s 50 day moving average is $51.18 and its two-hundred day moving average is $56.82. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 0.52.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.11). The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $514.79 million. Ashland had a positive return on equity of 7.14% and a negative net margin of 5.74%. The company’s revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. On average, equities analysts expect that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The company also recently declared 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. This represents a $1.66 annualized dividend and a yield of 3.25%. This is a positive change from Ashland’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, May 30th. Ashland’s payout ratio is currently -69.17%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho set a $60.00 price target on Ashland in a research report on Tuesday, April 15th. Wall Street Zen upgraded Ashland from a “sell” rating to a “hold” rating in a report on Friday, June 27th. 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 report on Tuesday, May 6th. Wells Fargo & Company cut shares of Ashland from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 1st. Finally, UBS Group decreased their price objective on shares of Ashland from $74.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.40.

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.