Synovus Financial Corp Grows Stock Holdings in Ashland Inc. (NYSE:ASH)

Synovus Financial Corp increased its stake in Ashland Inc. (NYSE:ASH) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,964 shares of the basic materials company’s stock after purchasing an additional 400 shares during the quarter. Synovus Financial Corp’s holdings in Ashland were worth $345,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ASH. Wilmington Savings Fund Society FSB purchased a new position in shares of Ashland in the 3rd quarter worth $38,000. Neo Ivy Capital Management purchased a new position in Ashland in the third quarter worth about $728,000. Geode Capital Management LLC grew its stake in shares of Ashland by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 827,642 shares of the basic materials company’s stock valued at $72,000,000 after purchasing an additional 2,316 shares during the period. Barclays PLC grew its stake in shares of Ashland by 323.1% during the 3rd quarter. Barclays PLC now owns 71,689 shares of the basic materials company’s stock valued at $6,236,000 after purchasing an additional 54,745 shares during the period. Finally, MML Investors Services LLC increased 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 purchasing an additional 966 shares during the last quarter. Institutional investors own 93.95% of the company’s stock.

Insider Buying and Selling at Ashland

In other news, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Ashland Stock Down 0.4 %

Shares of ASH stock opened at $72.80 on Thursday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The company’s fifty day moving average price is $80.70 and its 200-day moving average price is $87.40. Ashland Inc. has a one year low of $72.40 and a one year high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 EPS 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 business had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Ashland’s revenue was up .8% on a year-over-year basis. Sell-side analysts expect that Ashland Inc. will post 4.52 EPS for the current fiscal year.

Ashland Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on ASH shares. Wells Fargo & Company cut their target price on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research report 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 raised their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ashland has an average rating of “Moderate Buy” and a consensus target price of $102.00.

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.