Ashland Inc. (NYSE:ASH) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Ashland Inc. (NYSE:ASH) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,112 shares of the basic materials company’s stock after selling 912 shares during the period. PNC Financial Services Group Inc.’s holdings in Ashland were worth $508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASH. Vestmark Advisory Solutions Inc. boosted its holdings in Ashland by 17.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,112 shares of the basic materials company’s stock valued at $294,000 after purchasing an additional 610 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Ashland in the 4th quarter valued at about $28,943,000. Assetmark Inc. boosted its holdings in Ashland by 84.1% in the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 454 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Ashland by 2.8% in the 4th quarter. Victory Capital Management Inc. now owns 15,429 shares of the basic materials company’s stock valued at $1,103,000 after purchasing an additional 417 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Ashland by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 702,561 shares of the basic materials company’s stock valued at $50,205,000 after purchasing an additional 26,267 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ashland

In other news, CEO Guillermo Novo acquired 31,294 shares of the company’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Ashland Price Performance

Shares of ASH opened at $55.94 on Thursday. Ashland Inc. has a fifty-two week low of $54.86 and a fifty-two week high of $102.50. The firm’s 50 day moving average price is $64.24 and its 200 day moving average price is $75.04. The company has a market cap of $2.64 billion, a P/E ratio of -84.75, a PEG ratio of 1.14 and a beta of 0.89. 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 announced its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $0.45 EPS. On average, research analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, February 28th. Ashland’s payout ratio is currently -245.45%.

Analyst Ratings Changes

Several equities analysts have weighed in on ASH shares. Wells Fargo & Company decreased their target price on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. reduced their price target 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. BMO Capital Markets boosted their price target on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.00.

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.