Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Ashland Inc. (NYSE:ASH – Get Rating) by 60.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 709 shares of the basic materials company’s stock after selling 1,091 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ashland were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Belpointe Asset Management LLC lifted its position in shares of Ashland by 4.8% during the 2nd quarter. Belpointe Asset Management LLC now owns 2,531 shares of the basic materials company’s stock valued at $260,000 after buying an additional 117 shares during the last quarter. Allworth Financial LP lifted its position in shares of Ashland by 32.7% during the 2nd quarter. Allworth Financial LP now owns 520 shares of the basic materials company’s stock valued at $54,000 after buying an additional 128 shares during the last quarter. Profund Advisors LLC lifted its holdings in Ashland by 3.5% during the 1st quarter. Profund Advisors LLC now owns 4,045 shares of the basic materials company’s stock worth $398,000 after purchasing an additional 136 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Ashland by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,679 shares of the basic materials company’s stock worth $1,740,000 after purchasing an additional 138 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Ashland by 23.5% during the 1st quarter. Covestor Ltd now owns 809 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 93.26% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on ASH. StockNews.com raised Ashland from a “hold” rating to a “buy” rating in a report on Wednesday, November 16th. Credit Suisse Group increased their price objective on Ashland from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. Wells Fargo & Company increased their price objective on Ashland from $104.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 9th. Stifel Nicolaus raised their price target on Ashland from $143.00 to $148.00 in a report on Friday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Ashland from $120.00 to $125.00 in a report on Wednesday, November 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.63.
Ashland Price Performance
Ashland Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.335 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.34 annualized dividend and a yield of 1.20%. Ashland’s payout ratio is 8.27%.
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.
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