Empowered Funds LLC Buys Shares of 26,447 Ashland Inc. (NYSE:ASH)

Empowered Funds LLC bought a new stake in Ashland Inc. (NYSE:ASH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,447 shares of the basic materials company’s stock, valued at approximately $2,300,000. Empowered Funds LLC owned approximately 0.05% of Ashland at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ASH. 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 worth $33,000 after acquiring an additional 251 shares in the last quarter. Assetmark Inc. boosted its stake in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 464 shares during the period. GAMMA Investing LLC boosted its stake in Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 372 shares during the period. Innealta Capital LLC bought a new stake in shares of Ashland in the 2nd quarter worth approximately $71,000. Finally, Quest Partners LLC lifted its position in shares of Ashland by 8,211.1% in the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 739 shares during the period. Institutional investors own 93.95% of the company’s stock.

Insider Buying and Selling at Ashland

In related news, 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 transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ASH shares. Wells Fargo & Company dropped their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. BMO Capital Markets decreased their price objective on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. UBS Group reduced their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.29.

Ashland Stock Performance

NYSE ASH opened at $76.42 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.11 and a beta of 0.88. The stock has a fifty day simple moving average of $84.66 and a 200 day simple moving average of $90.60. Ashland Inc. has a twelve month low of $75.48 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. Ashland’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. Sell-side analysts expect that Ashland Inc. will post 4.82 EPS for the current year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, November 29th. Ashland’s payout ratio is 48.36%.

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.