Renaissance Technologies LLC Grows Position in Ashland Inc. (NYSE:ASH)

Renaissance Technologies LLC raised its position in shares of Ashland Inc. (NYSE:ASH) by 94.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,775 shares of the basic materials company’s stock after acquiring an additional 44,600 shares during the period. Renaissance Technologies LLC’s holdings in Ashland were worth $6,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Ashland during the third quarter valued at $38,000. Versant Capital Management Inc purchased a new stake in shares of Ashland during the 4th quarter valued at about $33,000. Atala Financial Inc bought a new position in shares of Ashland in the 4th quarter valued at about $56,000. Assetmark Inc. grew its position in Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 454 shares in the last quarter. Finally, Independence Bank of Kentucky increased its stake in Ashland by 302.4% during the fourth quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 1,119 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Trading Up 1.8 %

NYSE ASH opened at $50.45 on Friday. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $102.50. The company’s 50-day moving average price is $57.20 and its 200-day moving average price is $69.56. The stock has a market cap of $2.38 billion, a PE ratio of -76.44, a PEG ratio of 1.14 and a beta of 0.70. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities research analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Friday, February 28th. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASH. Wells Fargo & Company lowered their price objective on Ashland from $69.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. UBS Group cut their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Mizuho set a $60.00 price target on shares of Ashland in a report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Ashland from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insiders Place Their Bets

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the business’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

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.