Hilton Capital Management LLC Trims Stake in Ashland Inc. (NYSE:ASH)

Hilton Capital Management LLC lessened its position in Ashland Inc. (NYSE:ASH) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,501 shares of the basic materials company’s stock after selling 748 shares during the quarter. Hilton Capital Management LLC’s holdings in Ashland were worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Ashland by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,773,170 shares of the basic materials company’s stock worth $262,037,000 after acquiring an additional 86,977 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Ashland by 9.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,314,387 shares of the basic materials company’s stock worth $218,686,000 after purchasing an additional 198,913 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Ashland by 6.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock valued at $151,131,000 after purchasing an additional 103,517 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Ashland by 2.3% in the second quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock worth $63,492,000 after buying an additional 14,938 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Ashland by 2.4% in the second quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company’s stock worth $54,918,000 after buying an additional 13,577 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Down 0.2 %

ASH opened at $76.23 on Thursday. Ashland Inc. has a 1-year low of $75.04 and a 1-year high of $102.50. The firm’s 50 day simple moving average is $84.50 and its two-hundred day simple moving average is $90.50. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.72 billion, a PE ratio of 22.76, a PEG ratio of 1.11 and a beta of 0.88.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company had revenue of $522.00 million for the quarter, compared to analysts’ expectations of $524.07 million. During the same quarter last year, the firm posted $0.41 earnings per share. Ashland’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that Ashland Inc. will post 4.82 EPS for the current year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio is currently 48.36%.

Insider Transactions at Ashland

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

Wall Street Analysts Forecast Growth

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