Edgestream Partners L.P. Takes Position in Ashland Inc. (NYSE:ASH)

Edgestream Partners L.P. acquired a new stake in Ashland Inc. (NYSE:ASH) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 36,036 shares of the basic materials company’s stock, valued at approximately $3,134,000.

Several other hedge funds have also recently bought and sold shares of ASH. Prospera Private Wealth LLC purchased a new position in shares of Ashland in the third quarter worth approximately $31,000. UMB Bank n.a. lifted its stake in shares of Ashland by 193.1% in the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares during the last quarter. Assetmark Inc. increased its holdings in Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after buying an additional 464 shares during the period. GAMMA Investing LLC increased its holdings in Ashland by 133.8% in the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after buying an additional 372 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Ashland in the 2nd quarter worth about $71,000. 93.95% of the stock is currently owned by institutional investors.

Ashland Price Performance

Shares of NYSE ASH opened at $78.06 on Monday. The company has a market capitalization of $3.68 billion, a PE ratio of 23.30, a P/E/G ratio of 1.16 and a beta of 0.88. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $83.31 and a 200 day simple moving average of $89.55. Ashland Inc. has a twelve month low of $75.04 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. During the same period last year, the company earned $0.41 EPS. Ashland’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Ashland Inc. will post 4.66 EPS for the current year.

Ashland Dividend Announcement

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

Insider Transactions at Ashland

In related news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction that occurred on Friday, November 15th. The shares were 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 in the company, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.