Choreo LLC Makes New Investment in Ashland Inc. (NYSE:ASH)

Choreo LLC bought a new stake in shares of Ashland Inc. (NYSE:ASH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,514 shares of the basic materials company’s stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Ashland during the 3rd quarter worth $31,000. Versant Capital Management Inc bought a new position in shares of Ashland during the 4th quarter worth about $33,000. Wilmington Savings Fund Society FSB bought a new stake in Ashland in the third quarter valued at about $38,000. Assetmark Inc. raised its position in Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Ashland in the third quarter worth about $72,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Analysts Set New Price Targets

ASH has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets raised their price objective 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. Wells Fargo & Company dropped their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.57.

Insider Buying and Selling at Ashland

In other Ashland news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction on Friday, January 31st. The shares were purchased 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 owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Ashland Price Performance

ASH opened at $64.98 on Friday. Ashland Inc. has a one year low of $60.60 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The company’s 50 day simple moving average is $69.97 and its 200-day simple moving average is $79.74. The stock has a market capitalization of $3.07 billion, a P/E ratio of -98.45, a price-to-earnings-growth ratio of 1.14 and a beta of 0.86.

Ashland (NYSE:ASH) last released its quarterly earnings results 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 quarter in the prior year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

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

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.