VELA Investment Management LLC Has $2.76 Million Stake in Ashland Inc. (NYSE:ASH)

VELA Investment Management LLC cut its stake in shares of Ashland Inc. (NYSE:ASH) by 20.6% during the 4th quarter, Holdings Channel reports. The fund owned 38,580 shares of the basic materials company’s stock after selling 10,037 shares during the period. VELA Investment Management LLC’s holdings in Ashland were worth $2,757,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ashland by 12.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,975 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 322 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Ashland by 78.3% during the third quarter. State of Alaska Department of Revenue now owns 41,515 shares of the basic materials company’s stock worth $3,610,000 after buying an additional 18,230 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Ashland in the third quarter worth about $5,051,000. QRG Capital Management Inc. raised its position in Ashland by 33.1% in the third quarter. QRG Capital Management Inc. now owns 14,139 shares of the basic materials company’s stock worth $1,230,000 after acquiring an additional 3,513 shares during the period. Finally, Equitable Trust Co. boosted 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 acquiring an additional 141 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the sale, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.02% of the stock is currently owned by insiders.

Ashland Price Performance

Ashland stock opened at $61.52 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of -93.21, a PEG ratio of 1.14 and a beta of 0.86. Ashland Inc. has a one year low of $60.60 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The business has a fifty day moving average price of $68.05 and a 200-day moving average price of $77.95.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.63%. Ashland’s dividend payout ratio is currently -245.45%.

Analyst Ratings Changes

ASH has been the subject of several research analyst reports. BMO Capital Markets raised their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. UBS Group decreased their target price on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.57.

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.