Russell Investments Group Ltd. Increases Holdings in Ashland Inc. (NYSE:ASH)

Russell Investments Group Ltd. boosted its stake in shares of Ashland Inc. (NYSE:ASH) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,029 shares of the basic materials company’s stock after buying an additional 7,829 shares during the period. Russell Investments Group Ltd. owned 0.57% of Ashland worth $19,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp increased its position in shares of Ashland by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 36,943 shares of the basic materials company’s stock valued at $3,213,000 after acquiring an additional 486 shares during the period. MML Investors Services LLC grew its position in shares of Ashland by 25.7% during the 3rd quarter. MML Investors Services LLC now owns 4,729 shares of the basic materials company’s stock valued at $411,000 after acquiring an additional 966 shares during the period. Barclays PLC lifted its stake in Ashland by 323.1% in the 3rd quarter. Barclays PLC now owns 71,689 shares of the basic materials company’s stock valued at $6,236,000 after buying an additional 54,745 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ashland by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 827,642 shares of the basic materials company’s stock worth $72,000,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Ashland during the 3rd quarter worth approximately $728,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Trading Up 11.4 %

Shares of Ashland stock opened at $51.82 on Thursday. Ashland Inc. has a 52-week low of $45.21 and a 52-week high of $102.50. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The company’s 50-day simple moving average is $59.14 and its 200-day simple moving average is $71.33. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -78.51, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share 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 last year, the business earned $0.45 EPS. As a group, equities research analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.13%. Ashland’s payout ratio is currently -245.45%.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on ASH shares. Wells Fargo & Company dropped their target price on shares of Ashland from $69.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised shares of Ashland from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $71.00 in a research report on Wednesday, March 26th. UBS Group reduced their price target 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, Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.20.

About Ashland

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.