Ashland Inc. (NYSE:ASH) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its stake in shares of Ashland Inc. (NYSE:ASH) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,567,816 shares of the basic materials company’s stock after selling 358,191 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Ashland were worth $112,036,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of Ashland during the third quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in shares of Ashland during the fourth quarter valued at about $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland during the third quarter valued at about $38,000. Assetmark Inc. increased its position in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 464 shares during the last quarter. Finally, Atala Financial Inc acquired a new position in shares of Ashland in the fourth quarter valued at approximately $56,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ASH shares. JPMorgan Chase & Co. dropped their price objective on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. BMO Capital Markets lifted their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Ashland Trading Down 1.5 %

NYSE ASH opened at $55.86 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 52 week low of $54.16 and a 52 week high of $102.50. The stock has a market capitalization of $2.64 billion, a PE ratio of -84.64, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The firm has a 50 day moving average of $65.66 and a two-hundred day moving average of $76.19.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $0.45 EPS. As a group, research analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.405 per share. The ex-dividend date is Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.90%. Ashland’s dividend payout ratio is presently -245.45%.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.02% of the company’s stock.

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.