15,000 Shares in Ashland Inc. (NYSE:ASH) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Ashland Inc. (NYSE:ASH) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 15,000 shares of the basic materials company’s stock, valued at approximately $1,072,000.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in Ashland by 105.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock valued at $8,513,000 after buying an additional 61,058 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Ashland in the 3rd quarter valued at about $3,134,000. Bank of New York Mellon Corp boosted its position in shares of Ashland by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company’s stock valued at $36,964,000 after purchasing an additional 7,709 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ashland by 138.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock worth $10,501,000 after purchasing an additional 70,145 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Ashland by 66.9% in the third quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock worth $14,752,000 after purchasing an additional 67,980 shares in the last quarter. Institutional investors own 93.95% of the company’s stock.

Insider Transactions at Ashland

In other news, CEO Guillermo Novo purchased 31,294 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the acquisition, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ASH shares. Wells Fargo & Company reduced their price objective on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating for the company in a research report on Thursday. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. UBS Group cut their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $71.00 in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.40.

Ashland Trading Down 1.3 %

NYSE:ASH opened at $58.99 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. Ashland Inc. has a one year low of $54.86 and a one year high of $102.50. The company has a market cap of $2.78 billion, a PE ratio of -89.38, a PEG ratio of 1.14 and a beta of 0.89. The firm has a 50-day moving average of $62.54 and a 200-day moving average of $73.55.

Ashland (NYSE:ASH) last issued its quarterly earnings data 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 prior year, the business earned $0.45 EPS. As a group, equities research analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, February 28th. Ashland’s dividend payout ratio is -245.45%.

About Ashland

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.