Crossmark Global Holdings Inc. Raises Stake in Ashland Inc. (NYSE:ASH)

Crossmark Global Holdings Inc. lifted its position in shares of Ashland Inc. (NYSE:ASH) by 5.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,532 shares of the basic materials company’s stock after buying an additional 182 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ashland were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 464 shares during the last quarter. Equitable Trust Co. increased its stake in 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 purchasing an additional 141 shares during the last quarter. QRG Capital Management Inc. lifted its position in Ashland by 33.1% during the third quarter. QRG Capital Management Inc. now owns 14,139 shares of the basic materials company’s stock worth $1,230,000 after buying an additional 3,513 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Ashland in the 3rd quarter worth about $5,051,000. Finally, State of Alaska Department of Revenue grew its holdings in Ashland by 78.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 41,515 shares of the basic materials company’s stock valued at $3,610,000 after buying an additional 18,230 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Price Performance

ASH stock opened at $76.96 on Monday. The firm has a market cap of $3.76 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. Ashland Inc. has a 1 year low of $75.90 and a 1 year high of $102.50. The stock has a 50-day simple moving average of $84.99 and a 200-day simple moving average of $90.87.

Ashland (NYSE:ASH) last posted 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 the consensus estimate of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities analysts predict that Ashland Inc. will post 4.82 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.10%. Ashland’s dividend payout ratio (DPR) is 48.36%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ASH shares. Wells Fargo & Company cut their price objective on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. BMO Capital Markets lowered their price objective on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. Finally, UBS Group reduced their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.57.

Ashland 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.