Swiss National Bank Sells 1,700 Shares of Ashland Inc. (NYSE:ASH)

Swiss National Bank lowered its position in shares of Ashland Inc. (NYSE:ASH) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 91,300 shares of the basic materials company’s stock after selling 1,700 shares during the quarter. Swiss National Bank’s holdings in Ashland were worth $6,524,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ASH. Connor Clark & Lunn Investment Management Ltd. grew its stake in Ashland by 44.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,258 shares of the basic materials company’s stock worth $3,234,000 after purchasing an additional 13,856 shares during the period. AGF Management Ltd. grew its position in shares of Ashland by 6.3% during the 4th quarter. AGF Management Ltd. now owns 22,392 shares of the basic materials company’s stock worth $1,600,000 after buying an additional 1,322 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ashland by 5.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,071 shares of the basic materials company’s stock valued at $791,000 after acquiring an additional 526 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of Ashland by 17.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,112 shares of the basic materials company’s stock valued at $294,000 after acquiring an additional 610 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Ashland during the fourth quarter worth $28,943,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Trading Up 0.7 %

NYSE ASH opened at $56.28 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $63.70 and a 200 day simple moving average of $74.59. Ashland Inc. has a 12 month low of $54.86 and a 12 month high of $102.50. The firm has a market capitalization of $2.66 billion, a P/E ratio of -85.27, a PEG ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 business earned $0.45 EPS. On average, analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.405 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.88%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ASH. Wells Fargo & Company dropped their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced 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. UBS Group lowered their target price on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.00.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo acquired 31,294 shares of the stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the transaction, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.02% of the company’s stock.

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.