Ashland Inc. (NYSE:ASH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in Ashland Inc. (NYSE:ASH) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,721,417 shares of the basic materials company’s stock after selling 16,321 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ashland were worth $120,062,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Ashland by 12.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after buying an additional 284,215 shares during the period. Pacer Advisors Inc. increased its position in shares of Ashland by 16.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock valued at $73,074,000 after acquiring an additional 142,121 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Ashland by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 827,642 shares of the basic materials company’s stock valued at $72,000,000 after acquiring an additional 2,316 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Ashland by 2.6% in the 3rd quarter. WCM Investment Management LLC now owns 297,218 shares of the basic materials company’s stock worth $26,045,000 after acquiring an additional 7,478 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Ashland by 75.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 205,218 shares of the basic materials company’s stock worth $16,614,000 after acquiring an additional 88,425 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Stock Performance

Shares of ASH stock opened at $64.02 on Thursday. The company has a market cap of $3.02 billion, a P/E ratio of -97.00, a PEG ratio of 1.14 and a beta of 0.86. The firm has a fifty day moving average price of $70.20 and a 200 day moving average price of $79.84. 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 12 month low of $60.60 and a 12 month high of $102.50.

Ashland (NYSE:ASH) last released its quarterly earnings data 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter last year, the firm posted $0.45 EPS. Sell-side analysts predict that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Transactions at Ashland

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

Wall Street Analysts Forecast Growth

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

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.