ACG Wealth acquired a new position in shares of Ashland Inc. (NYSE:ASH – Get Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 276 shares of the basic materials company's stock, valued at approximately $28,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Ashland by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,133,706 shares of the basic materials company's stock worth $209,981,000 after acquiring an additional 62,376 shares during the period. State Street Corp raised its stake in Ashland by 1.7% during the fourth quarter. State Street Corp now owns 1,775,929 shares of the basic materials company's stock worth $191,197,000 after acquiring an additional 28,967 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Ashland by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,536,423 shares of the basic materials company's stock worth $151,200,000 after acquiring an additional 48,444 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Ashland by 16.5% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,355,440 shares of the basic materials company's stock worth $133,389,000 after acquiring an additional 192,197 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Ashland by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,354,749 shares of the basic materials company's stock worth $133,321,000 after purchasing an additional 111,135 shares during the last quarter. Institutional investors and hedge funds own 93.26% of the company's stock.
Get Ashland alerts:Analysts Set New Price Targets
Several research firms have commented on ASH. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Ashland from $122.00 to $120.00 in a research report on Tuesday, July 19th. StockNews.com upgraded shares of Ashland from a "hold" rating to a "buy" rating in a research report on Tuesday, September 13th. UBS Group upped their target price on shares of Ashland from $127.00 to $131.00 and gave the stock a "buy" rating in a research report on Wednesday, July 27th. Credit Suisse Group began coverage on shares of Ashland in a research report on Monday, September 12th. They issued an "outperform" rating and a $120.00 target price for the company. Finally, Mizuho increased their price objective on shares of Ashland from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and seven 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 an average price target of $124.22.
Ashland Trading Up 0.1 %
Shares of NYSE:ASH opened at $97.12 on Monday. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 6.11 and a beta of 1.01. Ashland Inc. has a 1-year low of $83.29 and a 1-year high of $112.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.20 and a current ratio of 3.30. The company has a 50 day moving average price of $102.54 and a 200 day moving average price of $101.49.Ashland (NYSE:ASH – Get Rating) last issued its earnings results on Tuesday, July 26th. The basic materials company reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.22. Ashland had a net margin of 38.83% and a return on equity of 10.33%. During the same quarter in the previous year, the business earned $1.22 earnings per share. On average, research analysts anticipate that Ashland Inc. will post 5.66 EPS for the current fiscal year.
Ashland Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Wednesday, August 31st. Ashland's payout ratio is 8.43%.
Ashland Profile
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Ashland Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents 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.
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