WCM Investment Management LLC Increases Stock Position in Ashland Inc. (NYSE:ASH)
WCM Investment Management LLC increased its position in shares of Ashland Inc. (NYSE:ASH – Free Report) by 809.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,969 shares of the basic materials company’s stock after buying an additional 205,567 shares during the period. WCM Investment Management LLC owned 0.45% of Ashland worth $18,907,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in ASH. 1832 Asset Management L.P. boosted its holdings in Ashland by 1,837.0% during the second quarter. 1832 Asset Management L.P. now owns 659,044 shares of the basic materials company’s stock worth $57,278,000 after buying an additional 625,020 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Ashland by 33.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,704,424 shares of the basic materials company’s stock valued at $148,131,000 after purchasing an additional 427,516 shares in the last quarter. Norges Bank purchased a new position in Ashland during the fourth quarter valued at $31,908,000. Clearbridge Investments LLC lifted its holdings in Ashland by 33.9% during the first quarter. Clearbridge Investments LLC now owns 1,027,256 shares of the basic materials company’s stock valued at $101,092,000 after purchasing an additional 259,926 shares in the last quarter. Finally, Pictet Asset Management SA lifted its holdings in Ashland by 229.5% during the first quarter. Pictet Asset Management SA now owns 355,540 shares of the basic materials company’s stock valued at $36,518,000 after purchasing an additional 247,651 shares in the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Ashland news, insider Eric N. Boni sold 843 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $82.38, for a total transaction of $69,446.34. Following the completion of the transaction, the insider now owns 13,072 shares in the company, valued at approximately $1,076,871.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by company insiders.
Ashland Stock Down 2.3 %
Shares of ASH stock traded down $1.99 during trading on Friday, reaching $85.25. The company’s stock had a trading volume of 1,206,830 shares, compared to its average volume of 476,045. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.30 and a quick ratio of 1.93. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 26.08 and a beta of 0.95. The stock’s 50-day moving average price is $78.21 and its 200 day moving average price is $83.32. Ashland Inc. has a 1-year low of $70.82 and a 1-year high of $112.71.
Ashland (NYSE:ASH – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $518.00 million during the quarter, compared to analyst estimates of $528.57 million. Ashland had a net margin of 8.07% and a return on equity of 6.78%. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, research analysts anticipate that Ashland Inc. will post 3.92 EPS for the current year.
Ashland Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, November 30th. Ashland’s dividend payout ratio (DPR) is presently 47.09%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Ashland from $110.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, November 13th. TheStreet downgraded shares of Ashland from a “b-” rating to a “c+” rating in a research note on Friday, October 6th. Mizuho reduced their target price on shares of Ashland from $114.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. UBS Group reduced their target price on shares of Ashland from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Finally, StockNews.com downgraded shares of Ashland from a “hold” rating to a “sell” rating in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $93.14.
Get Our Latest Stock Report on ASH
Ashland Company Profile (Free Report)
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.
See Also
Want to see what other hedge funds are holding ASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ashland Inc. (NYSE:ASH – Free Report).
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