GAMMA Investing LLC Grows Stake in Ashland Inc. (NYSE:ASH)

GAMMA Investing LLC lifted its stake in Ashland Inc. (NYSE:ASH) by 363.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,739 shares of the basic materials company’s stock after buying an additional 1,364 shares during the quarter. GAMMA Investing LLC’s holdings in Ashland were worth $124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in Ashland by 6,127.2% during the third quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after purchasing an additional 866,320 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ashland by 12.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after acquiring an additional 284,215 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Ashland by 616.6% in the 2nd quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company’s stock worth $17,875,000 after acquiring an additional 162,776 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Ashland by 407.2% during the 2nd quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock worth $13,202,000 after purchasing an additional 112,169 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Ashland by 6.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock valued at $151,131,000 after purchasing an additional 103,517 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Down 1.2 %

Shares of ASH opened at $70.39 on Friday. The firm has a market cap of $3.32 billion, a P/E ratio of 21.01, a PEG ratio of 1.15 and a beta of 0.87. Ashland Inc. has a 12 month low of $69.25 and a 12 month high of $102.50. The stock’s 50 day moving average is $75.92 and its two-hundred day moving average is $84.45. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last posted its quarterly earnings data 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 company had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Analysts predict that Ashland Inc. will post 4.52 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.405 per share. The ex-dividend date was Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.30%. Ashland’s payout ratio is 48.36%.

Insider Activity at Ashland

In related news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction that occurred 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 sale, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at $224,585.70. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ASH shares. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their price objective on Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, BMO Capital Markets increased their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

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.