Verition Fund Management LLC Has $556,000 Stock Position in Ashland Inc. (NYSE:ASH)

Verition Fund Management LLC cut its holdings in shares of Ashland Inc. (NYSE:ASH) by 57.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,389 shares of the basic materials company’s stock after selling 8,685 shares during the quarter. Verition Fund Management LLC’s holdings in Ashland were worth $556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ASH. Prospera Private Wealth LLC purchased a new position in Ashland during the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its stake in shares of Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after buying an additional 251 shares during the period. Assetmark Inc. increased its stake in shares of Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 464 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Ashland during the second quarter worth $71,000. Finally, Quest Partners LLC boosted its position in Ashland by 8,211.1% during the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 739 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 0.5 %

NYSE:ASH opened at $75.89 on Wednesday. The company’s 50 day moving average is $81.99 and its 200-day moving average is $88.40. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ashland Inc. has a 12 month low of $74.89 and a 12 month high of $102.50. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.12 and a beta of 0.86.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The firm had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. During the same period in the prior year, the firm earned $0.41 EPS. The firm’s revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Ashland Inc. will post 4.66 EPS for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is currently 48.36%.

Analyst Ratings Changes

ASH has been the topic of several research reports. BMO Capital Markets dropped their target price on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 19th. StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group decreased their target price on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Ashland currently has an average rating of “Moderate Buy” and a consensus target price of $103.29.

Insider Transactions at Ashland

In other news, VP Eric N. Boni sold 451 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Ashland 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.