AXQ Capital LP Grows Position in Ashland Inc. (NYSE:ASH)

AXQ Capital LP increased its position in Ashland Inc. (NYSE:ASH) by 45.5% in the 4th quarter, HoldingsChannel reports. The fund owned 12,255 shares of the basic materials company’s stock after purchasing an additional 3,831 shares during the period. AXQ Capital LP’s holdings in Ashland were worth $876,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ASH. American Century Companies Inc. grew its stake in Ashland by 29.8% in the 4th quarter. American Century Companies Inc. now owns 171,636 shares of the basic materials company’s stock worth $12,265,000 after buying an additional 39,392 shares in the last quarter. Xponance Inc. increased its holdings in Ashland by 5.7% during the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock valued at $401,000 after purchasing an additional 301 shares during the period. Boston Partners raised its holdings in shares of Ashland by 47.1% during the fourth quarter. Boston Partners now owns 577,633 shares of the basic materials company’s stock valued at $41,247,000 after acquiring an additional 184,954 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Ashland by 25.0% in the 4th quarter. First Eagle Investment Management LLC now owns 156,050 shares of the basic materials company’s stock worth $11,151,000 after purchasing an additional 31,200 shares during the period. Finally, Hilton Capital Management LLC boosted its position in Ashland by 4.6% during the 4th quarter. Hilton Capital Management LLC now owns 15,162 shares of the basic materials company’s stock valued at $1,083,000 after acquiring an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

Shares of ASH stock opened at $56.28 on Friday. Ashland Inc. has a fifty-two week low of $54.86 and a fifty-two week high of $102.50. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -85.27, a PEG ratio of 1.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The stock’s 50-day simple moving average is $63.70 and its 200-day simple moving average is $74.68.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) 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 period last year, the company earned $0.45 earnings per share. As a group, equities analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, February 28th. Ashland’s payout ratio is currently -245.45%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company decreased their target price on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, BMO Capital Markets increased their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.00.

Insider Buying and Selling at Ashland

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is owned by company insiders.

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.