Amalgamated Bank Decreases Stock Holdings in Ashland Inc. (NYSE:ASH)

Amalgamated Bank reduced its position in shares of Ashland Inc. (NYSE:ASH) by 20.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,888 shares of the basic materials company’s stock after selling 5,788 shares during the quarter. Amalgamated Bank’s holdings in Ashland were worth $1,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 251 shares during the last quarter. GAMMA Investing LLC increased its holdings in Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 372 shares during the period. Quest Partners LLC raised its position in Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 739 shares during the last quarter. Innealta Capital LLC purchased a new stake in Ashland in the 2nd quarter worth approximately $71,000. Finally, Ecofi Investissements SA bought a new stake in shares of Ashland in the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ashland Stock Performance

Ashland stock opened at $78.75 on Tuesday. The stock’s 50 day moving average is $85.75 and its 200 day moving average is $91.38. The company has a market capitalization of $3.85 billion, a P/E ratio of 23.51, a PEG ratio of 1.08 and a beta of 0.88. Ashland Inc. has a twelve month low of $72.08 and a twelve month high of $102.50. The company has a quick ratio of 1.84, a current ratio of 2.44 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. During the same period in the prior year, the firm earned $0.41 EPS. Ashland’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that Ashland Inc. will post 5.1 earnings per share for the current fiscal year.

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.