AGF Management Ltd. Has $1.60 Million Stock Holdings in Ashland Inc. (NYSE:ASH)

AGF Management Ltd. grew its holdings in Ashland Inc. (NYSE:ASH) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,392 shares of the basic materials company’s stock after purchasing an additional 1,322 shares during the quarter. AGF Management Ltd.’s holdings in Ashland were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in Ashland during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in Ashland during the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB acquired a new position in Ashland during the 3rd quarter worth approximately $38,000. Assetmark Inc. raised its stake in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Ashland during the 3rd quarter worth approximately $72,000. 93.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets boosted their price objective on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. UBS Group decreased their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.00.

Ashland Stock Performance

ASH stock opened at $57.03 on Friday. The firm has a market cap of $2.69 billion, a PE ratio of -86.40, a P/E/G ratio of 1.14 and a beta of 0.89. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $65.38 and a 200-day moving average of $76.05. Ashland Inc. has a 12-month low of $55.29 and a 12-month high of $102.50.

Ashland (NYSE:ASH) last released its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s dividend payout ratio is presently -245.45%.

About Ashland

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.