Treasurer of the State of North Carolina Cuts Stake in Ashland Inc. (NYSE:ASH)

Treasurer of the State of North Carolina cut its position in Ashland Inc. (NYSE:ASH) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,405 shares of the basic materials company’s stock after selling 420 shares during the period. Treasurer of the State of North Carolina’s holdings in Ashland were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Ashland during the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Ashland during the 3rd quarter valued at about $38,000. Atala Financial Inc acquired a new stake in Ashland in the 4th quarter valued at about $56,000. Assetmark Inc. lifted its stake in Ashland by 84.1% in the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 454 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its stake in Ashland by 302.4% in the 4th quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 1,119 shares in the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Trading Up 1.8 %

NYSE ASH opened at $50.45 on Friday. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $102.50. The stock has a market capitalization of $2.38 billion, a P/E ratio of -76.44, a PEG ratio of 1.14 and a beta of 0.70. The firm’s 50-day moving average is $57.49 and its two-hundred day moving average is $69.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.405 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 3.21%. Ashland’s dividend payout ratio is presently -245.45%.

Analyst Ratings Changes

Several research firms recently commented on ASH. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their price target on Ashland from $69.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Mizuho set a $60.00 price objective on shares of Ashland in a research report on Tuesday. Finally, UBS Group decreased their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ashland has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insider Buying and Selling

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by corporate insiders.

Ashland 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.