NewEdge Wealth LLC Reduces Stock Holdings in Ashland Inc. (NYSE:ASH)

NewEdge Wealth LLC cut its position in shares of Ashland Inc. (NYSE:ASH) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,606 shares of the basic materials company’s stock after selling 55,712 shares during the period. NewEdge Wealth LLC owned approximately 0.51% of Ashland worth $17,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Equitable Trust Co. grew its stake in shares of Ashland by 2.2% in the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock valued at $559,000 after buying an additional 141 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Ashland by 5.5% during the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 163 shares during the period. Crossmark Global Holdings Inc. grew its position in Ashland by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock valued at $307,000 after acquiring an additional 182 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Ashland by 12.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,975 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 322 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Ashland during the third quarter worth about $31,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. UBS Group reduced their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ashland currently has an average rating of “Moderate Buy” and an average price target of $95.57.

Ashland Stock Down 2.8 %

Ashland stock opened at $62.69 on Thursday. The stock has a market cap of $2.96 billion, a PE ratio of -94.98, a P/E/G ratio of 1.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The stock’s fifty day moving average is $68.26 and its two-hundred day moving average is $78.06. Ashland Inc. has a 1-year low of $60.60 and a 1-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 the consensus estimate 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 period last year, the business posted $0.45 EPS. On average, sell-side analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Activity at Ashland

In other news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction on Friday, January 31st. The stock was bought at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Ashland Company Profile

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.