Empowered Funds LLC Has $2.58 Million Holdings in Ashland Inc. (NYSE:ASH)

Empowered Funds LLC raised its holdings in shares of Ashland Inc. (NYSE:ASH) by 36.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,103 shares of the basic materials company’s stock after purchasing an additional 9,656 shares during the quarter. Empowered Funds LLC owned approximately 0.08% of Ashland worth $2,580,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ASH. Prospera Private Wealth LLC acquired a new stake in Ashland during the 3rd quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in Ashland during the 4th quarter valued at $33,000. Wilmington Savings Fund Society FSB bought a new position in Ashland during the 3rd quarter worth $38,000. Assetmark Inc. increased its position in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Ashland during the 3rd quarter worth $72,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Stock Performance

Ashland stock opened at $64.98 on Friday. Ashland Inc. has a 12-month low of $60.60 and a 12-month high of $102.50. 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 50-day moving average price is $69.97 and its two-hundred day moving average price is $79.74. The stock has a market cap of $3.07 billion, a PE ratio of -98.45, a P/E/G ratio of 1.14 and a beta of 0.86.

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

Ashland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, February 28th. Ashland’s payout ratio is -245.45%.

Analysts Set New Price Targets

Several research firms have weighed in on ASH. Wells Fargo & Company lowered their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. UBS Group lowered their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets raised their price target on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Three equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.57.

Insider Activity

In other news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Guillermo Novo purchased 31,294 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.02% of the company’s stock.

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.