Clearbridge Investments LLC Has $100.57 Million Holdings in Ashland Inc. (NYSE:ASH)

Clearbridge Investments LLC decreased its position in Ashland Inc. (NYSE:ASH) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,407,423 shares of the basic materials company’s stock after selling 257,637 shares during the quarter. Clearbridge Investments LLC’s holdings in Ashland were worth $100,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Ashland during the fourth quarter worth about $28,943,000. Boston Partners boosted its position in Ashland by 47.1% during the 4th quarter. Boston Partners now owns 577,633 shares of the basic materials company’s stock worth $41,247,000 after acquiring an additional 184,954 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Ashland by 2,060.5% during the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock worth $12,802,000 after acquiring an additional 170,859 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Ashland by 703.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock valued at $13,206,000 after purchasing an additional 161,812 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Ashland by 16.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock worth $73,074,000 after purchasing an additional 142,121 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets upped their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $71.00 in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Ashland Price Performance

Shares of NYSE ASH opened at $59.41 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $62.29 and its two-hundred day moving average price is $73.37. The company has a market cap of $2.80 billion, a PE ratio of -90.01, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. Ashland Inc. has a twelve month low of $54.86 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last posted its 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period last year, the business earned $0.45 EPS. On average, analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, February 28th. Ashland’s payout ratio is presently -245.45%.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo purchased 31,294 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by corporate 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.