Ieq Capital LLC Takes $1.66 Million Position in Ashland Inc. (NYSE:ASH)

Ieq Capital LLC acquired a new position in shares of Ashland Inc. (NYSE:ASH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,289 shares of the basic materials company’s stock, valued at approximately $1,664,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Ashland during the third quarter worth $31,000. Versant Capital Management Inc acquired a new position in Ashland during the 4th quarter worth about $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Ashland during the third quarter worth about $38,000. Assetmark Inc. lifted its position in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ashland in the third quarter valued at approximately $72,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Stock Performance

Shares of ASH opened at $64.93 on Monday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -98.37, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. Ashland Inc. has a 52-week low of $60.60 and a 52-week high of $102.50. 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 stock has a 50 day moving average price of $68.81 and a 200 day moving average price of $78.43.

Ashland (NYSE:ASH) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 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 quarter in the previous year, the company earned $0.45 earnings per share. Research analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.50%. Ashland’s dividend payout ratio is presently -245.45%.

Insider Buying and Selling

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the sale, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their target price on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Wells Fargo & Company cut their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. UBS Group decreased their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ashland has a consensus rating of “Moderate Buy” and an average target price of $95.57.

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.