Fmr LLC Sells 1,005 Shares of Ashland Inc. (NYSE:ASH)

Fmr LLC lowered its holdings in shares of Ashland Inc. (NYSE:ASH) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,229 shares of the basic materials company’s stock after selling 1,005 shares during the period. Fmr LLC’s holdings in Ashland were worth $803,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ASH. Pacer Advisors Inc. raised its holdings in shares of Ashland by 6,127.2% during the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock worth $76,574,000 after acquiring an additional 866,320 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Ashland by 12.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock worth $226,000,000 after purchasing an additional 284,215 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Ashland by 616.6% in the second quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company’s stock valued at $17,875,000 after acquiring an additional 162,776 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Ashland in the 2nd quarter valued at about $14,346,000. Finally, American Century Companies Inc. boosted its position in Ashland by 407.2% during the 2nd quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock valued at $13,202,000 after acquiring an additional 112,169 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 14,182 shares of the company’s stock, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Ashland Stock Performance

NYSE:ASH opened at $73.08 on Wednesday. The company has a fifty day moving average of $80.93 and a two-hundred day moving average of $87.50. Ashland Inc. has a fifty-two week low of $72.83 and a fifty-two week high of $102.50. The stock has a market capitalization of $3.44 billion, a PE ratio of 21.81, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

Ashland (NYSE:ASH) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The firm had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts forecast that Ashland Inc. will post 4.52 earnings per share for the current fiscal year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.405 per share. The ex-dividend date was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.22%. Ashland’s payout ratio is 48.36%.

Analyst Upgrades and Downgrades

ASH has been the subject of several recent analyst reports. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Finally, BMO Capital Markets raised 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

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.