Shapiro Capital Management LLC Acquires 424,595 Shares of Ashland Inc. (NYSE:ASH)

Shapiro Capital Management LLC boosted its holdings in Ashland Inc. (NYSE:ASH) by 172.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,785 shares of the basic materials company’s stock after purchasing an additional 424,595 shares during the quarter. Ashland makes up approximately 1.6% of Shapiro Capital Management LLC’s holdings, making the stock its 29th biggest position. Shapiro Capital Management LLC owned 1.42% of Ashland worth $47,934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Ashland during the 4th quarter worth approximately $28,943,000. Eminence Capital LP raised its holdings in shares of Ashland by 8.0% during the 4th quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company’s stock worth $204,409,000 after acquiring an additional 212,916 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Ashland by 8.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company’s stock worth $200,583,000 after acquiring an additional 208,320 shares in the last quarter. Boston Partners raised its holdings in shares of Ashland by 47.1% during the 4th quarter. Boston Partners now owns 577,633 shares of the basic materials company’s stock worth $41,247,000 after acquiring an additional 184,954 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Ashland by 2,060.5% during the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock worth $12,802,000 after acquiring an additional 170,859 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Performance

ASH stock opened at $51.68 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $52.96 and its two-hundred day simple moving average is $65.16. Ashland Inc. has a twelve month low of $45.21 and a twelve month high of $102.50. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -78.30, a PEG ratio of 1.14 and a beta of 0.58.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.11). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $514.79 million. During the same quarter in the previous year, the business earned $1.27 EPS. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. Analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.415 per share. This is an increase from Ashland’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, May 30th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.21%. Ashland’s dividend payout ratio is presently -69.17%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ASH shares. JPMorgan Chase & Co. decreased their price objective on Ashland from $71.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company lowered Ashland from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 1st. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Mizuho set a $60.00 price target on Ashland in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.60.

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.