State of New Jersey Common Pension Fund D Buys 5,092 Shares of Ashland Inc. (NYSE:ASH)

State of New Jersey Common Pension Fund D increased its stake in shares of Ashland Inc. (NYSE:ASH) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,480 shares of the basic materials company’s stock after acquiring an additional 5,092 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Ashland worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in ASH. Blue Trust Inc. grew its position in shares of Ashland by 850.8% in the 3rd quarter. Blue Trust Inc. now owns 1,835 shares of the basic materials company’s stock worth $173,000 after buying an additional 1,642 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Ashland by 18.5% in the 3rd quarter. Raymond James & Associates now owns 118,226 shares of the basic materials company’s stock valued at $10,282,000 after purchasing an additional 18,449 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ashland by 12.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,975 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 322 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Ashland by 78.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 41,515 shares of the basic materials company’s stock valued at $3,610,000 after purchasing an additional 18,230 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Ashland in the 3rd quarter valued at approximately $5,051,000. 93.95% of the stock is currently owned by institutional investors.

Ashland Price Performance

Shares of Ashland stock opened at $64.93 on Monday. The stock’s 50-day simple moving average is $68.81 and its 200-day simple moving average is $78.43. Ashland Inc. has a 52 week low of $60.60 and a 52 week high of $102.50. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -98.37, a PEG ratio of 1.15 and a beta of 0.86. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51.

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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, analysts expect that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given 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 (DPR) is presently -245.45%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ASH. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. UBS Group lowered 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. Wells Fargo & Company lowered their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, BMO Capital Markets boosted their price target on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.57.

Insider Buying and Selling at Ashland

In other news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares of the company’s stock, 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 can be accessed through this link. Also, CEO Guillermo Novo acquired 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.02% of the company’s stock.

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.