Sei Investments Co. Trims Stake in Ashland Inc. (NYSE:ASH)

Sei Investments Co. decreased its stake in shares of Ashland Inc. (NYSE:ASH) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,405 shares of the basic materials company’s stock after selling 7,717 shares during the period. Sei Investments Co. owned 0.16% of Ashland worth $5,246,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Ashland during the fourth quarter valued at $33,000. Wilmington Savings Fund Society FSB purchased a new position in Ashland in the 3rd quarter valued at about $38,000. Atala Financial Inc acquired a new stake in shares of Ashland during the 4th quarter worth about $56,000. Assetmark Inc. grew its holdings in shares of Ashland by 84.1% during the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock worth $71,000 after buying an additional 454 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ashland in the third quarter valued at approximately $72,000. 93.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ASH. UBS Group lowered their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. BMO Capital Markets lifted their price target on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price objective on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.40.

Ashland Stock Performance

Shares of NYSE:ASH opened at $57.72 on Wednesday. The firm has a market capitalization of $2.72 billion, a PE ratio of -87.45, a P/E/G ratio of 1.14 and a beta of 0.89. Ashland Inc. has a 12 month low of $54.86 and a 12 month high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The business has a 50-day moving average of $61.98 and a two-hundred day moving average of $73.17.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, research analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently announced 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 of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.81%. Ashland’s payout ratio is -245.45%.

Insider Buying and Selling

In related news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction on Friday, January 31st. The shares were bought at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by corporate insiders.

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.