Quadrature Capital Ltd Increases Holdings in Ashland Inc. (NYSE:ASH)

Quadrature Capital Ltd increased its holdings in shares of Ashland Inc. (NYSE:ASH) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,464 shares of the basic materials company’s stock after purchasing an additional 4,212 shares during the quarter. Quadrature Capital Ltd’s holdings in Ashland were worth $3,955,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC bought a new position in shares of Ashland during the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its stake in Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after buying an additional 251 shares during the last quarter. Assetmark Inc. grew its holdings in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after buying an additional 464 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 372 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 739 shares during the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Trading Down 2.2 %

ASH opened at $76.45 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The stock’s 50 day moving average price is $82.65 and its 200-day moving average price is $89.04. Ashland Inc. has a one year low of $75.04 and a one year high of $102.50. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 1.17 and a beta of 0.86.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business had revenue of $522.00 million for the quarter, compared to analysts’ expectations of $524.07 million. During the same quarter in the previous year, the firm earned $0.41 EPS. Ashland’s revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that Ashland Inc. will post 4.66 EPS for the current year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.12%. Ashland’s payout ratio is 48.36%.

Insider Buying and Selling at Ashland

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares in the company, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $89.00 in a report on Thursday, August 8th. UBS Group reduced their price objective on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets lowered their price objective on Ashland from $92.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 19th. Finally, StockNews.com raised Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ashland has an average rating of “Moderate Buy” and a consensus target price of $103.29.

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.