Ashland Inc. (NYSE:ASH) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its stake in shares of Ashland Inc. (NYSE:ASH) by 42.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,418 shares of the basic materials company’s stock after selling 19,670 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.05% of Ashland worth $2,298,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. 1832 Asset Management L.P. increased its stake in shares of Ashland by 4.2% during the first quarter. 1832 Asset Management L.P. now owns 657,010 shares of the basic materials company’s stock worth $63,973,000 after buying an additional 26,245 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ashland in the 2nd quarter valued at approximately $713,000. Boston Partners increased its position in shares of Ashland by 33.0% in the 1st quarter. Boston Partners now owns 429,220 shares of the basic materials company’s stock valued at $41,727,000 after purchasing an additional 106,417 shares during the last quarter. Bayesian Capital Management LP raised its holdings in shares of Ashland by 242.5% in the 1st quarter. Bayesian Capital Management LP now owns 13,700 shares of the basic materials company’s stock valued at $1,334,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Ashland during the 2nd quarter worth $2,442,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Price Performance

Shares of ASH opened at $76.42 on Wednesday. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88. Ashland Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $102.50. The firm has a 50-day simple moving average of $84.66 and a 200-day simple moving average of $90.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The company had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. On average, equities research analysts anticipate that Ashland Inc. will post 4.82 earnings per share for the current year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Activity

In related news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the transaction, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at $224,585.70. This represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

ASH has been the topic of a number of analyst reports. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Wells Fargo & Company lowered their price target on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. BMO Capital Markets decreased their price objective on shares of Ashland from $92.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, UBS Group cut their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.29.

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.