QRG Capital Management Inc. Reduces Stake in Ashland Inc. (NYSE:ASH)

QRG Capital Management Inc. decreased its position in Ashland Inc. (NYSE:ASH) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,700 shares of the basic materials company’s stock after selling 439 shares during the quarter. QRG Capital Management Inc.’s holdings in Ashland were worth $979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its stake in shares of Ashland by 106.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 20,895 shares of the basic materials company’s stock worth $1,493,000 after acquiring an additional 10,770 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ashland by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company’s stock valued at $36,964,000 after purchasing an additional 7,709 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Ashland during the fourth quarter valued at about $734,000. Handelsbanken Fonder AB increased its position in Ashland by 12.6% in the fourth quarter. Handelsbanken Fonder AB now owns 14,300 shares of the basic materials company’s stock worth $1,022,000 after buying an additional 1,600 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Ashland in the fourth quarter worth about $1,664,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group decreased their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. decreased their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.50.

Ashland Stock Down 3.9 %

ASH opened at $58.47 on Tuesday. The company has a market capitalization of $2.76 billion, a PE ratio of -88.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.86. The firm has a 50-day simple moving average of $67.57 and a two-hundred day simple moving average of $77.53. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 52 week low of $58.34 and a 52 week high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 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 business earned $0.45 EPS. Analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, February 28th. Ashland’s dividend payout ratio is presently -245.45%.

Insider Activity at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 14,182 shares of the company’s stock, valued at $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Guillermo Novo acquired 31,294 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $64.24 per share, with a total value 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 owned by insiders.

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.