Zurcher Kantonalbank Zurich Cantonalbank Has $791,000 Stock Holdings in Ashland Inc. (NYSE:ASH)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ashland Inc. (NYSE:ASH) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,071 shares of the basic materials company’s stock after purchasing an additional 526 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ashland were worth $791,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ASH. Prospera Private Wealth LLC bought a new position in Ashland in the third quarter valued at approximately $31,000. Versant Capital Management Inc bought a new position in Ashland in the fourth quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB bought a new position in Ashland in the third quarter valued at approximately $38,000. Assetmark Inc. grew its stake in Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 454 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Ashland in the third quarter valued at approximately $72,000. 93.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Guillermo Novo acquired 31,294 shares of the company’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ASH has been the subject of a number of analyst reports. UBS Group decreased their price target on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. 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 research note on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.00.

Ashland Stock Performance

NYSE:ASH opened at $56.28 on Friday. The stock has a market cap of $2.66 billion, a P/E ratio of -85.27, a PEG ratio of 1.14 and a beta of 0.89. The stock has a 50 day simple moving average of $63.70 and a 200 day simple moving average of $74.68. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 1-year low of $54.86 and a 1-year high of $102.50.

Ashland (NYSE:ASH) last released its quarterly 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 period last year, the firm earned $0.45 EPS. Research analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.88%. Ashland’s payout ratio is currently -245.45%.

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.