ExodusPoint Capital Management LP Invests $5.62 Million in Ashland Inc. (NYSE:ASH)

ExodusPoint Capital Management LP purchased a new stake in Ashland Inc. (NYSE:ASH) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 78,638 shares of the basic materials company’s stock, valued at approximately $5,619,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ASH. Massachusetts Financial Services Co. MA lifted its holdings in Ashland by 8.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company’s stock valued at $200,583,000 after purchasing an additional 208,320 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Ashland during the 4th quarter worth about $127,000. Cornercap Investment Counsel Inc. purchased a new position in Ashland in the 4th quarter valued at about $401,000. Pictet Asset Management Holding SA boosted its holdings in Ashland by 15.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,694 shares of the basic materials company’s stock worth $550,000 after buying an additional 1,038 shares during the last quarter. Finally, Cruiser Capital Advisors LLC increased its stake in Ashland by 28.9% during the 4th quarter. Cruiser Capital Advisors LLC now owns 60,636 shares of the basic materials company’s stock worth $4,333,000 after buying an additional 13,586 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 7.5 %

Shares of ASH stock opened at $49.08 on Friday. 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 Inc. has a twelve month low of $47.29 and a twelve month high of $102.50. The company’s 50-day moving average price is $60.91 and its 200-day moving average price is $72.56. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -74.36, a PEG ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH) last posted 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 negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.30%. Ashland’s dividend payout ratio (DPR) is -245.45%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Ashland from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $71.00 in a report on Wednesday, March 26th. BMO Capital Markets raised their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price objective on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Ashland has an average rating of “Moderate Buy” and an average target price of $85.40.

Insider Buying and Selling at Ashland

In other Ashland news, CEO Guillermo Novo acquired 31,294 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost 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 $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.