AGF Management Ltd. Purchases 1,322 Shares of Ashland Inc. (NYSE:ASH)

AGF Management Ltd. raised its position in shares of Ashland Inc. (NYSE:ASH) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,392 shares of the basic materials company’s stock after purchasing an additional 1,322 shares during the period. AGF Management Ltd.’s holdings in Ashland were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ASH. Prospera Private Wealth LLC bought a new position in Ashland during the third quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of Ashland during the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland during the third quarter worth $38,000. Assetmark Inc. lifted its position in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 464 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ashland during the third quarter worth $72,000. 93.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. UBS Group dropped their target price on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. BMO Capital Markets increased their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ashland currently has a consensus rating of “Hold” and an average price target of $87.00.

Ashland Trading Up 1.9 %

Shares of ASH stock opened at $57.03 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. Ashland Inc. has a 52-week low of $55.29 and a 52-week high of $102.50. The company has a market capitalization of $2.69 billion, a PE ratio of -86.40, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The business’s fifty day moving average is $65.38 and its 200 day moving average is $76.05.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (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 period in the previous year, the company posted $0.45 earnings per share. On average, equities research analysts anticipate that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.405 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.84%. Ashland’s dividend payout ratio is presently -245.45%.

Insider Activity at Ashland

In other news, CEO Guillermo Novo bought 31,294 shares of Ashland stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by insiders.

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.