Retirement Systems of Alabama Has $5.16 Million Position in Ashland Inc. (NYSE:ASH)

Retirement Systems of Alabama lessened its holdings in shares of Ashland Inc. (NYSE:ASH) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,320 shares of the basic materials company’s stock after selling 2,548 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Ashland worth $5,159,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Ashland in the 2nd quarter valued at about $251,000. Raymond James & Associates boosted its position in shares of Ashland by 28.7% during the second quarter. Raymond James & Associates now owns 99,777 shares of the basic materials company’s stock valued at $9,428,000 after buying an additional 22,280 shares during the last quarter. Fifth Third Bancorp grew its holdings in Ashland by 65.4% during the second quarter. Fifth Third Bancorp now owns 1,080 shares of the basic materials company’s stock worth $102,000 after buying an additional 427 shares in the last quarter. Bank of New York Mellon Corp raised its position in Ashland by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 547,909 shares of the basic materials company’s stock valued at $51,772,000 after buying an additional 6,598 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ashland by 15.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,545 shares of the basic materials company’s stock valued at $996,000 after acquiring an additional 1,379 shares in the last quarter. 93.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Ashland has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Stock Down 0.4 %

ASH opened at $72.80 on Thursday. The company’s 50-day moving average price is $80.70 and its two-hundred day moving average price is $87.40. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ashland Inc. has a twelve month low of $72.40 and a twelve month high of $102.50. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.15 and a beta of 0.86.

Ashland (NYSE:ASH) last announced its quarterly earnings data 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). The firm had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. Ashland’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. As a group, equities analysts expect that Ashland Inc. will post 4.52 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, November 29th. Ashland’s dividend payout ratio is currently 48.36%.

Insiders Place Their Bets

In other Ashland news, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value 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. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

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.