Principal Financial Group Inc. Has $9.85 Million Stake in Ashland Inc. (NYSE:ASH)

Principal Financial Group Inc. reduced its stake in shares of Ashland Inc. (NYSE:ASH) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,242 shares of the basic materials company’s stock after selling 53,718 shares during the quarter. Principal Financial Group Inc.’s holdings in Ashland were worth $9,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ASH. UMB Bank n.a. lifted its holdings in Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Ashland by 133.8% in the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 372 shares during the period. Quest Partners LLC increased its stake in Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 739 shares in the last quarter. Innealta Capital LLC acquired a new stake in Ashland during the 2nd quarter worth approximately $71,000. Finally, Ecofi Investissements SA bought a new position in Ashland in the second quarter valued at approximately $74,000. 93.95% of the stock is owned by institutional investors.

Insider Activity at Ashland

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of the business’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 owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by insiders.

Ashland Stock Performance

ASH stock opened at $77.04 on Tuesday. The firm has a market cap of $3.76 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $84.82 and a 200-day moving average price of $90.73. Ashland Inc. has a 1-year low of $76.33 and a 1-year high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The company had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. Ashland’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, equities research analysts expect that Ashland Inc. will post 4.82 earnings per share for the current year.

Ashland Dividend Announcement

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

Wall Street Analysts Forecast Growth

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