Fulton Bank N.A. Raises Holdings in Ashland Inc. (NYSE:ASH)

Fulton Bank N.A. boosted its holdings in shares of Ashland Inc. (NYSE:ASH) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,570 shares of the basic materials company’s stock after buying an additional 451 shares during the quarter. Fulton Bank N.A.’s holdings in Ashland were worth $255,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Prospera Private Wealth LLC acquired a new stake in Ashland in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its stake in Ashland by 193.1% in the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 251 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Ashland in the third quarter valued at approximately $38,000. Versant Capital Management Inc acquired a new stake in Ashland in the fourth quarter valued at approximately $33,000. Finally, Assetmark Inc. boosted its stake in Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 464 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ashland

In related news, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Ashland Trading Down 2.3 %

NYSE ASH opened at $68.74 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 20.52, a P/E/G ratio of 1.15 and a beta of 0.87. The company has a fifty day moving average of $75.92 and a 200 day moving average of $84.45. Ashland Inc. has a 1 year low of $68.54 and a 1 year high of $102.50. 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 (NYSE:ASH) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The business had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Research analysts forecast that Ashland Inc. will post 4.52 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a $0.405 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.36%. Ashland’s payout ratio is 48.36%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

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.