Envestnet Asset Management Inc. Has $3.12 Million Stake in Ashland Inc. (NYSE:ASH)

Envestnet Asset Management Inc. boosted its holdings in shares of Ashland Inc. (NYSE:ASHGet Rating) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,259 shares of the basic materials company’s stock after buying an additional 2,188 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ashland were worth $3,118,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Belpointe Asset Management LLC increased its position in Ashland by 4.8% during the second quarter. Belpointe Asset Management LLC now owns 2,531 shares of the basic materials company’s stock worth $260,000 after buying an additional 117 shares during the last quarter. Allworth Financial LP grew its position in shares of Ashland by 32.7% in the second quarter. Allworth Financial LP now owns 520 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 128 shares during the last quarter. Profund Advisors LLC grew its position in shares of Ashland by 3.5% in the first quarter. Profund Advisors LLC now owns 4,045 shares of the basic materials company’s stock valued at $398,000 after purchasing an additional 136 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Ashland by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 17,679 shares of the basic materials company’s stock valued at $1,740,000 after purchasing an additional 138 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Ashland by 23.5% in the first quarter. Covestor Ltd now owns 809 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 154 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ASH shares. Wells Fargo & Company raised their price target on Ashland from $104.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 9th. UBS Group lifted their target price on Ashland from $127.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft lifted their target price on Ashland from $120.00 to $125.00 in a research report on Wednesday, November 9th. Mizuho lifted their target price on Ashland from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. Finally, Credit Suisse Group lifted their target price on Ashland from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.56.

Ashland Stock Up 2.5 %

Shares of ASH opened at $111.68 on Wednesday. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 6.89 and a beta of 1.00. The company has a quick ratio of 2.06, a current ratio of 3.20 and a debt-to-equity ratio of 0.39. Ashland Inc. has a 12 month low of $83.29 and a 12 month high of $112.91. The company has a 50-day moving average price of $100.19 and a two-hundred day moving average price of $101.66.

About Ashland

(Get Rating)

Ashland Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents 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

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Institutional Ownership by Quarter for Ashland (NYSE:ASH)

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