Headlands Technologies LLC Purchases New Position in Ashland Inc. (NYSE:ASH)

Headlands Technologies LLC acquired a new position in Ashland Inc. (NYSE:ASH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,775 shares of the basic materials company’s stock, valued at approximately $127,000.

Several other hedge funds have also modified their holdings of ASH. Raymond James Financial Inc. purchased a new stake in Ashland during the fourth quarter valued at $28,943,000. Boston Partners raised its position in shares of Ashland by 47.1% during the 4th quarter. Boston Partners now owns 577,633 shares of the basic materials company’s stock valued at $41,247,000 after buying an additional 184,954 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ashland by 2,060.5% in the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock valued at $12,802,000 after acquiring an additional 170,859 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ashland by 703.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after acquiring an additional 161,812 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Ashland by 16.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock worth $73,074,000 after acquiring an additional 142,121 shares during the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ashland

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Ashland from $80.00 to $69.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. UBS Group reduced their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $71.00 in a research note 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Ashland Stock Performance

Shares of NYSE:ASH opened at $49.08 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The firm has a market cap of $2.32 billion, a PE ratio of -74.36, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. The firm’s 50 day simple moving average is $60.91 and its 200-day simple moving average is $72.56. Ashland Inc. has a one year low of $47.29 and a one year high of $102.50.

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

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 3.30%. Ashland’s dividend payout ratio is currently -245.45%.

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.