State of New Jersey Common Pension Fund D Buys 3,472 Shares of Ashland Inc. (NYSE:ASH)

State of New Jersey Common Pension Fund D grew its stake in Ashland Inc. (NYSE:ASH) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,388 shares of the basic materials company’s stock after purchasing an additional 3,472 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ashland were worth $1,947,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ASH. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ashland by 9.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,314,387 shares of the basic materials company’s stock valued at $218,686,000 after purchasing an additional 198,913 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Ashland by 616.6% during the second quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company’s stock worth $17,875,000 after acquiring an additional 162,776 shares during the period. Hantz Financial Services Inc. bought a new stake in Ashland during the second quarter worth $14,346,000. Clearbridge Investments LLC lifted its holdings in Ashland by 9.0% during the first quarter. Clearbridge Investments LLC now owns 1,806,137 shares of the basic materials company’s stock worth $175,864,000 after acquiring an additional 149,483 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Ashland by 407.2% during the second quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock worth $13,202,000 after acquiring an additional 112,169 shares during the period. Institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

Shares of ASH opened at $76.96 on Monday. The firm has a market capitalization of $3.76 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. Ashland Inc. has a 1-year low of $75.90 and a 1-year high of $102.50. The company’s fifty day moving average price is $84.99 and its 200-day moving average price is $90.87.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. During the same period in the previous year, the company posted $0.41 earnings per share. Ashland’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that Ashland Inc. will post 4.82 EPS for the current year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.10%. Ashland’s dividend payout ratio is presently 48.36%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ASH shares. Wells Fargo & Company lowered their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. UBS Group cut their price objective on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, BMO Capital Markets lowered their price target on Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.57.

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.