Quantbot Technologies LP Acquires New Holdings in Ashland Inc. (NYSE:ASH)

Quantbot Technologies LP bought a new position in Ashland Inc. (NYSE:ASH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,179 shares of the basic materials company’s stock, valued at approximately $5,930,000.

Several other hedge funds also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd raised its stake in shares of Ashland by 83.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 18,987 shares of the basic materials company’s stock valued at $1,651,000 after acquiring an additional 8,650 shares in the last quarter. Citigroup Inc. raised its position in shares of Ashland by 465.0% in the third quarter. Citigroup Inc. now owns 42,287 shares of the basic materials company’s stock valued at $3,678,000 after purchasing an additional 34,802 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Ashland by 5.5% in the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after buying an additional 163 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Ashland by 75.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 205,218 shares of the basic materials company’s stock worth $16,614,000 after buying an additional 88,425 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Ashland by 6,127.2% in the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after buying an additional 866,320 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Insiders Place Their Bets

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction on 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group cut their target price on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company cut their price objective on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets lowered their target price on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 19th. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.29.

Ashland Price Performance

Shares of NYSE:ASH opened at $77.97 on Wednesday. The firm has a market capitalization of $3.67 billion, a PE ratio of 23.27, a PEG ratio of 1.14 and a beta of 0.88. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. Ashland Inc. has a 1-year low of $75.04 and a 1-year high of $102.50. The business’s 50 day moving average is $84.05 and its 200-day moving average is $90.05.

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

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

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.