Ashland Inc. (NYSE:ASH) Position Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in shares of Ashland Inc. (NYSE:ASHFree Report) by 32.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,844 shares of the basic materials company’s stock after selling 27,648 shares during the period. Gateway Investment Advisers LLC’s holdings in Ashland were worth $4,877,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ASH. Belpointe Asset Management LLC lifted its holdings in Ashland by 4.9% in the first quarter. Belpointe Asset Management LLC now owns 2,651 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 125 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Ashland by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 16,858 shares of the basic materials company’s stock worth $1,465,000 after acquiring an additional 134 shares during the last quarter. Covestor Ltd lifted its holdings in Ashland by 23.5% in the first quarter. Covestor Ltd now owns 809 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 154 shares during the last quarter. Steph & Co. lifted its holdings in Ashland by 4.1% in the third quarter. Steph & Co. now owns 4,005 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 158 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Ashland by 43.1% in the third quarter. Allworth Financial LP now owns 561 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 90.08% of the company’s stock.

Ashland Trading Down 1.4 %

Ashland stock opened at $95.39 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.88 and a current ratio of 3.30. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 31.28 and a beta of 0.92. Ashland Inc. has a 1 year low of $70.82 and a 1 year high of $105.15. The firm’s 50 day moving average price is $89.24 and its two-hundred day moving average price is $83.49.

Ashland (NYSE:ASHGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.24. The firm had revenue of $473.00 million for the quarter, compared to analyst estimates of $478.69 million. Ashland had a net margin of 7.62% and a return on equity of 5.95%. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. On average, research analysts predict that Ashland Inc. will post 4.33 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.385 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.54 annualized dividend and a yield of 1.61%. Ashland’s dividend payout ratio (DPR) is 50.49%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ASH shares. JPMorgan Chase & Co. raised their target price on shares of Ashland from $70.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. TheStreet upgraded shares of Ashland from a “c+” rating to a “b-” rating in a research note on Thursday, February 22nd. Wells Fargo & Company raised their price target on shares of Ashland from $80.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and raised their price target for the company from $100.00 to $126.00 in a research note on Thursday, March 14th. Finally, Wolfe Research started coverage on shares of Ashland in a research note on Friday, March 1st. They issued an “outperform” rating and a $108.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.67.

Get Our Latest Stock Analysis on Ashland

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.

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Institutional Ownership by Quarter for Ashland (NYSE:ASH)

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