Ieq Capital LLC Acquires New Shares in Ashland Inc. (NYSE:ASH)

Ieq Capital LLC bought a new position in shares of Ashland Inc. (NYSE:ASH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,289 shares of the basic materials company’s stock, valued at approximately $1,664,000.

A number of other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in shares of Ashland in the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new position in Ashland during the fourth quarter worth about $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland in the third quarter valued at about $38,000. Assetmark Inc. lifted its holdings in shares of Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ashland in the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Insider Activity at Ashland

In other news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was 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 of the company’s stock, valued at $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Guillermo Novo bought 31,294 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. This represents a ? increase in their position. The disclosure for this purchase can be found here. 1.02% of the stock is owned by insiders.

Ashland Stock Performance

NYSE ASH opened at $64.93 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. Ashland Inc. has a 1-year low of $60.60 and a 1-year high of $102.50. The firm has a market capitalization of $3.06 billion, a P/E ratio of -98.37, a P/E/G ratio of 1.15 and a beta of 0.86. The business’s 50-day simple moving average is $68.81 and its 200-day simple moving average is $78.43.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter last year, the firm earned $0.45 EPS. Equities analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.50%. Ashland’s dividend payout ratio (DPR) is -245.45%.

Analyst Ratings Changes

ASH has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. BMO Capital Markets lifted their price target on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price target on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.57.

About Ashland

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.