Ashland Inc. (NYSE:ASH) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Ashland Inc. (NYSE:ASH) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 827,642 shares of the basic materials company’s stock after purchasing an additional 2,316 shares during the period. Geode Capital Management LLC owned 1.69% of Ashland worth $72,000,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ASH. Equitable Trust Co. raised its stake in shares of Ashland by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after buying an additional 141 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Ashland by 2.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,295 shares of the basic materials company’s stock valued at $681,000 after acquiring an additional 149 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Ashland by 5.5% during the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 163 shares in the last quarter. Creative Planning grew its stake in shares of Ashland by 3.8% in the 2nd quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock worth $460,000 after purchasing an additional 176 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Ashland by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 182 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Ashland Stock Performance

Shares of ASH stock opened at $71.85 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.15 and a beta of 0.86. Ashland Inc. has a 1-year low of $71.56 and a 1-year high of $102.50. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $80.44 and its 200-day simple moving average is $87.29.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $522.00 million for the quarter, compared to analysts’ expectations of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. On average, sell-side analysts predict that Ashland Inc. will post 4.52 earnings per share for the current fiscal year.

Ashland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, November 29th. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ASH shares. Wells Fargo & Company decreased their price target on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. BMO Capital Markets lifted 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. Finally, StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.