15,316 Shares in Ashland Inc. (NYSE:ASH) Purchased by FORA Capital LLC

FORA Capital LLC acquired a new position in Ashland Inc. (NYSE:ASH) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,316 shares of the basic materials company’s stock, valued at approximately $1,332,000.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Ashland in the 2nd quarter worth about $713,000. 1832 Asset Management L.P. lifted its stake in Ashland by 2.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock worth $63,492,000 after acquiring an additional 14,938 shares in the last quarter. Boston Partners lifted its stake in Ashland by 33.0% in the 1st quarter. Boston Partners now owns 429,220 shares of the basic materials company’s stock worth $41,727,000 after acquiring an additional 106,417 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Ashland in the 2nd quarter worth about $2,442,000. Finally, Tidal Investments LLC lifted its stake in Ashland by 400.3% in the 1st quarter. Tidal Investments LLC now owns 15,891 shares of the basic materials company’s stock worth $1,547,000 after acquiring an additional 12,715 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. raised Ashland from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. Wells Fargo & Company dropped their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. UBS Group dropped their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, BMO Capital Markets dropped their target price on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.29.

Ashland Stock Performance

Shares of NYSE ASH opened at $78.31 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 1.15 and a beta of 0.88. The business’s 50-day simple moving average is $83.87 and its 200-day simple moving average is $89.91. Ashland Inc. has a 52 week low of $75.04 and a 52 week high of $102.50.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The company had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. As a group, equities research analysts expect that Ashland Inc. will post 4.82 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is currently 48.36%.

Insider Buying and Selling at Ashland

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.69% 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.