Pacer Advisors Inc. Boosts Stake in Ashland Inc. (NYSE:ASH)

Pacer Advisors Inc. grew its stake in Ashland Inc. (NYSE:ASH) by 6,127.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 880,459 shares of the basic materials company’s stock after purchasing an additional 866,320 shares during the period. Pacer Advisors Inc. owned approximately 1.80% of Ashland worth $76,574,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC purchased a new stake in Ashland in the 1st quarter worth approximately $212,000. 1832 Asset Management L.P. grew its stake in Ashland by 4.2% during the 1st quarter. 1832 Asset Management L.P. now owns 657,010 shares of the basic materials company’s stock valued at $63,973,000 after purchasing an additional 26,245 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Ashland by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,613 shares of the basic materials company’s stock valued at $2,397,000 after acquiring an additional 2,016 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Ashland in the 1st quarter worth approximately $352,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in Ashland during the first quarter worth about $228,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Trading Up 2.0 %

Shares of Ashland stock opened at $77.74 on Friday. 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 Inc. has a 1 year low of $75.04 and a 1 year high of $102.50. The firm’s 50 day moving average is $84.35 and its 200 day moving average is $90.41. The firm has a market capitalization of $3.66 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88.

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

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, November 29th. Ashland’s payout ratio is 48.36%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by insiders.

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.