Ashland Inc. (NYSE:ASH) Shares Sold by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC cut its stake in shares of Ashland Inc. (NYSE:ASH) by 4.0% in the first quarter, HoldingsChannel.com reports. The fund owned 16,405 shares of the basic materials company’s stock after selling 689 shares during the period. Keeley Teton Advisors LLC’s holdings in Ashland were worth $1,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MQS Management LLC acquired a new position in shares of Ashland during the 1st quarter worth about $288,000. Twin Capital Management Inc. purchased a new stake in Ashland during the 1st quarter worth approximately $1,184,000. Clearbridge Investments LLC raised its holdings in shares of Ashland by 9.0% during the first quarter. Clearbridge Investments LLC now owns 1,806,137 shares of the basic materials company’s stock valued at $175,864,000 after acquiring an additional 149,483 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Ashland in the first quarter valued at approximately $212,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Ashland during the first quarter worth approximately $4,786,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Trading Up 1.8 %

Ashland stock traded up $1.67 during midday trading on Friday, hitting $96.19. 193,529 shares of the stock were exchanged, compared to its average volume of 288,615. The company has a current ratio of 3.15, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 0.91 and a beta of 0.90. The stock’s 50-day simple moving average is $96.76 and its 200 day simple moving average is $94.11. Ashland Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.13. Ashland had a net margin of 9.09% and a return on equity of 5.57%. The business had revenue of $575.00 million during the quarter, compared to the consensus estimate of $574.64 million. During the same quarter last year, the firm earned $1.43 EPS. The business’s revenue was down 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Ashland Inc. will post 4.56 EPS for the current year.

Ashland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, May 31st. This is a positive change from Ashland’s previous quarterly dividend of $0.39. Ashland’s dividend payout ratio is 42.97%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Mizuho raised their price target on shares of Ashland from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upgraded shares of Ashland from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $112.00 in a research report on Thursday, April 11th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets raised their target price on shares of Ashland from $97.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

Ashland 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.