The Manufacturers Life Insurance Company Reduces Holdings in Ashland Inc. (NYSE:ASH)

The Manufacturers Life Insurance Company reduced its stake in Ashland Inc. (NYSE:ASH) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,979 shares of the basic materials company’s stock after selling 945 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Ashland worth $2,857,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP lifted its position in Ashland by 28.6% during the 4th quarter. Quarry LP now owns 1,926 shares of the basic materials company’s stock valued at $138,000 after acquiring an additional 428 shares during the period. Aquatic Capital Management LLC purchased a new position in Ashland during the fourth quarter valued at $726,000. Boothbay Fund Management LLC grew its stake in shares of Ashland by 5.7% in the fourth quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 284 shares during the last quarter. Nebula Research & Development LLC bought a new position in Ashland in the 4th quarter worth about $629,000. Finally, Integrated Wealth Concepts LLC grew its position in Ashland by 6.2% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 211 shares during the last quarter. 93.95% of the stock is owned by institutional investors.

Ashland Trading Up 0.1 %

NYSE:ASH opened at $50.05 on Friday. Ashland Inc. has a one year low of $45.21 and a one year high of $102.50. The business has a fifty day moving average price of $53.49 and a 200-day moving average price of $66.06. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -75.83, a price-to-earnings-growth ratio of 1.14 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $514.79 million. Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. Sell-side analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Increases Dividend

The company also recently disclosed 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 represents a $1.66 annualized dividend and a dividend yield of 3.32%. This is an increase from Ashland’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, May 30th. Ashland’s dividend payout ratio (DPR) is presently -69.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ASH. UBS Group cut their price target on shares of Ashland from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company downgraded Ashland from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Ashland from $71.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday. Mizuho set a $60.00 price target on shares of Ashland in a research note on Tuesday, April 15th. Finally, Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Ashland currently has an average rating of “Hold” and an average 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.