Mutual of America Capital Management LLC Decreases Stake in Ashland Inc. (NYSE:ASH)

Mutual of America Capital Management LLC reduced its holdings in Ashland Inc. (NYSE:ASH) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,897 shares of the basic materials company’s stock after selling 2,725 shares during the period. Mutual of America Capital Management LLC owned approximately 0.38% of Ashland worth $18,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ASH. Victory Capital Management Inc. lifted its stake in shares of Ashland by 14.0% in the fourth quarter. Victory Capital Management Inc. now owns 10,509 shares of the basic materials company’s stock worth $886,000 after buying an additional 1,289 shares in the last quarter. BNP Paribas Financial Markets increased its position in Ashland by 19.1% during the fourth quarter. BNP Paribas Financial Markets now owns 8,632 shares of the basic materials company’s stock worth $728,000 after purchasing an additional 1,383 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Ashland during the fourth quarter worth about $340,000. Quadrant Capital Group LLC increased its position in Ashland by 143.7% during the fourth quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 477 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ashland during the fourth quarter worth about $899,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Trading Up 0.2 %

NYSE ASH opened at $87.19 on Wednesday. The firm has a 50 day simple moving average of $89.79 and a 200-day simple moving average of $94.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.98. Ashland Inc. has a one year low of $70.82 and a one year high of $102.50. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.04 and a beta of 0.88.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Ashland had a net margin of 7.01% and a return on equity of 5.98%. The business had revenue of $544.00 million during the quarter, compared to analyst estimates of $577.08 million. During the same quarter last year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts anticipate that Ashland Inc. will post 4.55 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 1.86%. Ashland’s dividend payout ratio is currently 42.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ASH shares. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. BMO Capital Markets cut their price objective on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group dropped their price target on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

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.