New York State Common Retirement Fund Has $5.75 Million Stake in Ashland Inc. (NYSE:ASH)

New York State Common Retirement Fund lowered its position in Ashland Inc. (NYSE:ASH) by 22.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,486 shares of the basic materials company’s stock after selling 23,927 shares during the period. New York State Common Retirement Fund’s holdings in Ashland were worth $5,752,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ashland by 12.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,975 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 322 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Ashland by 78.3% during the third quarter. State of Alaska Department of Revenue now owns 41,515 shares of the basic materials company’s stock worth $3,610,000 after purchasing an additional 18,230 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Ashland in the 3rd quarter valued at about $5,051,000. QRG Capital Management Inc. lifted its holdings in Ashland by 33.1% during the 3rd quarter. QRG Capital Management Inc. now owns 14,139 shares of the basic materials company’s stock worth $1,230,000 after purchasing an additional 3,513 shares during the last quarter. Finally, Equitable Trust Co. boosted its position in shares of Ashland by 2.2% in the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock valued at $559,000 after acquiring an additional 141 shares during the period. Institutional investors own 93.95% of the company’s stock.

Insider Buying and Selling at Ashland

In related news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction 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 completion of the sale, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Guillermo Novo purchased 31,294 shares of the 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 acquisition, 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 disclosure for this purchase can be found here. Insiders own 1.02% of the company’s stock.

Ashland Stock Down 1.9 %

ASH opened at $61.52 on Friday. 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 firm has a market capitalization of $2.90 billion, a P/E ratio of -93.21, a PEG ratio of 1.14 and a beta of 0.86. Ashland Inc. has a fifty-two week low of $60.60 and a fifty-two week high of $102.50. The company’s 50-day moving average is $68.05 and its 200 day moving average is $77.95.

Ashland (NYSE:ASH) last announced 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter in the prior year, the business posted $0.45 earnings per share. Research analysts expect that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.63%. Ashland’s dividend payout ratio is -245.45%.

Analysts Set New Price Targets

ASH has been the topic of a number of recent analyst reports. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. BMO Capital Markets lifted their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. UBS Group decreased their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.57.

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.