Ashland Inc. (NYSE:ASH) Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in shares of Ashland Inc. (NYSE:ASH) by 15.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,694 shares of the basic materials company’s stock after buying an additional 1,038 shares during the period. Pictet Asset Management Holding SA’s holdings in Ashland were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ASH. Versant Capital Management Inc acquired a new stake in shares of Ashland during the fourth quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland in the third quarter valued at $38,000. Atala Financial Inc acquired a new stake in shares of Ashland in the fourth quarter worth $56,000. Assetmark Inc. grew its holdings in shares of Ashland by 84.1% during the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after buying an additional 454 shares in the last quarter. Finally, Independence Bank of Kentucky raised its position in Ashland by 302.4% during the fourth quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company’s stock valued at $106,000 after buying an additional 1,119 shares during the period. 93.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASH has been the topic of several research analyst reports. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. UBS Group lowered their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets lifted their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ashland currently has a consensus rating of “Moderate Buy” and an average target price of $85.40.

Insider Buying and Selling

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Ashland Trading Down 4.8 %

Ashland stock opened at $46.39 on Wednesday. Ashland Inc. has a one year low of $45.79 and a one year high of $102.50. The company’s fifty day moving average price is $59.61 and its two-hundred day moving average price is $71.71. 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 has a market capitalization of $2.19 billion, a price-to-earnings ratio of -70.29, a PEG ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 EPS 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 period last year, the business posted $0.45 EPS. On average, analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors 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 3.49%. Ashland’s payout ratio is presently -245.45%.

Ashland 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.