5,610 Shares in Ashland Inc. (NYSE:ASH) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. purchased a new stake in shares of Ashland Inc. (NYSE:ASH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,610 shares of the basic materials company’s stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in Ashland by 105.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock worth $8,513,000 after acquiring an additional 61,058 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Ashland during the third quarter valued at about $3,134,000. Bank of New York Mellon Corp raised its stake in Ashland by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company’s stock worth $36,964,000 after buying an additional 7,709 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ashland by 138.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock worth $10,501,000 after buying an additional 70,145 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Ashland by 66.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock valued at $14,752,000 after acquiring an additional 67,980 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

Shares of NYSE ASH opened at $58.99 on Friday. The firm has a market cap of $2.78 billion, a P/E ratio of -89.38, a PEG ratio of 1.14 and a beta of 0.89. Ashland Inc. has a twelve month low of $54.86 and a twelve 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 company has a 50 day moving average of $62.54 and a 200 day moving average of $73.63.

Ashland (NYSE:ASH) last released its quarterly earnings data 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 negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the previous year, the firm earned $0.45 EPS. As a group, research analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.75%. Ashland’s payout ratio is -245.45%.

Insider Activity at Ashland

In related news, 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 cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ASH shares. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. BMO Capital Markets raised their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Ashland from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $68.00 to $71.00 in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, UBS Group dropped their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.40.

Ashland 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.