QRG Capital Management Inc. Has $566,000 Holdings in Ashland Inc. (NYSE:ASH)

QRG Capital Management Inc. boosted its stake in shares of Ashland Inc. (NYSE:ASHFree Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,709 shares of the basic materials company’s stock after acquiring an additional 372 shares during the period. QRG Capital Management Inc.’s holdings in Ashland were worth $566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Ashland by 43.1% in the 3rd quarter. Allworth Financial LP now owns 561 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 169 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Ashland by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 64,176 shares of the basic materials company’s stock valued at $5,411,000 after purchasing an additional 197 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Ashland by 143.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 223 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in shares of Ashland by 8.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,107 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 238 shares during the last quarter. Finally, Fulton Bank N.A. grew its position in Ashland by 8.4% during the 4th quarter. Fulton Bank N.A. now owns 3,173 shares of the basic materials company’s stock worth $268,000 after acquiring an additional 247 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ASH. TheStreet upgraded Ashland from a “c+” rating to a “b-” rating in a research report on Thursday, February 22nd. Wells Fargo & Company raised Ashland from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $100.00 to $112.00 in a report on Thursday, April 11th. UBS Group upped their price target on Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Mizuho upped their price target on Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group upgraded Ashland from a “hold” rating to a “buy” rating and upped their price target for the company from $100.00 to $126.00 in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.44.

Get Our Latest Stock Report on Ashland

Ashland Stock Up 1.5 %

ASH stock opened at $100.06 on Friday. The stock’s 50 day simple moving average is $96.31 and its 200 day simple moving average is $88.48. The company has a market cap of $5.02 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 3.15. Ashland Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $100.09.

Ashland (NYSE:ASHGet Free Report) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.13. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The company had revenue of $575.00 million for the quarter, compared to analyst estimates of $574.64 million. During the same period in the prior year, the firm earned $1.43 earnings per share. Ashland’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, research analysts expect that Ashland Inc. will post 4.47 earnings per share for the current fiscal year.

Ashland Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Ashland’s previous quarterly dividend of $0.39. Ashland’s dividend payout ratio is currently 40.85%.

Ashland Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ashland (NYSE:ASH)

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