Ashland Inc. (NYSE:ASH) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in Ashland Inc. (NYSE:ASH) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,300 shares of the basic materials company’s stock after acquiring an additional 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ashland were worth $1,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ASH. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ashland by 12.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,975 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 322 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Ashland by 78.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 41,515 shares of the basic materials company’s stock worth $3,610,000 after acquiring an additional 18,230 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Ashland in the 3rd quarter worth $5,051,000. QRG Capital Management Inc. increased its stake in shares of Ashland by 33.1% in the 3rd quarter. QRG Capital Management Inc. now owns 14,139 shares of the basic materials company’s stock worth $1,230,000 after acquiring an additional 3,513 shares during the last quarter. Finally, Equitable Trust Co. increased its stake in shares of Ashland by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after acquiring an additional 141 shares during the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

Ashland Stock Performance

Shares of Ashland stock opened at $61.52 on Friday. The business has a 50-day moving average of $68.05 and a 200 day moving average of $77.95. Ashland Inc. has a 12 month low of $60.60 and a 12 month high of $102.50. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -93.21, a price-to-earnings-growth ratio of 1.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last announced its earnings results 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 in the previous year, the firm earned $0.45 EPS. As a group, sell-side analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price 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 price target on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. BMO Capital Markets increased their price target on 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 lowered their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.57.

Insider Activity

In related news, CEO Guillermo Novo acquired 31,294 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares of the company’s stock, valued at $1,107,188.74. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

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.