Swiss National Bank Sells 600 Shares of Ashland Inc. (NYSE:ASH)

Swiss National Bank lowered its position in Ashland Inc. (NYSE:ASH) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,000 shares of the basic materials company’s stock after selling 600 shares during the period. Swiss National Bank owned 0.19% of Ashland worth $8,088,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Ashland by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,773,170 shares of the basic materials company’s stock worth $262,037,000 after acquiring an additional 86,977 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Ashland by 9.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,314,387 shares of the basic materials company’s stock worth $218,686,000 after buying an additional 198,913 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Ashland by 6.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock worth $151,131,000 after buying an additional 103,517 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Ashland by 2.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock worth $63,492,000 after buying an additional 14,938 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Ashland by 2.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company’s stock worth $54,918,000 after buying an additional 13,577 shares during the last quarter. Institutional investors own 93.95% of the company’s stock.

Ashland Stock Performance

ASH stock opened at $79.77 on Tuesday. The company has a market cap of $3.76 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88. Ashland Inc. has a 1 year low of $75.04 and a 1 year high of $102.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The stock’s fifty day moving average price is $84.05 and its 200-day moving average price is $90.05.

Ashland (NYSE:ASH) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The firm had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, equities analysts forecast that Ashland Inc. will post 4.82 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.03%. Ashland’s dividend payout ratio is currently 48.36%.

Analysts Set New Price Targets

ASH has been the topic of several recent research reports. BMO Capital Markets cut their price target on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 19th. Wells Fargo & Company cut their price target on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. UBS Group cut their price target on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and cut their target price for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.29.

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the transaction, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% 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.