Ashland Inc. (ASH) Stake Lowered by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. lowered its stake in Ashland Inc. (NYSE:ASH) by 21.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,055 shares of the company’s stock after selling 2,945 shares during the period. First Citizens Bank & Trust Co.’s holdings in Ashland were worth $1,269,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Capstone Asset Management Co. increased its stake in shares of Ashland by 1.3% in the second quarter. Capstone Asset Management Co. now owns 6,249 shares of the company’s stock valued at $717,000 after buying an additional 80 shares during the period. Franklin Resources Inc. increased its stake in shares of Ashland by 1.1% in the first quarter. Franklin Resources Inc. now owns 19,160 shares of the company’s stock valued at $2,106,000 after buying an additional 200 shares during the period. Oakbrook Investments LLC increased its stake in shares of Ashland by 12.3% in the second quarter. Oakbrook Investments LLC now owns 3,200 shares of the company’s stock valued at $367,000 after buying an additional 350 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Ashland by 3.4% in the first quarter. Envestnet Asset Management Inc. now owns 11,999 shares of the company’s stock valued at $1,319,000 after buying an additional 389 shares during the period. Finally, Murphy Capital Management Inc. increased its stake in shares of Ashland by 8.7% in the second quarter. Murphy Capital Management Inc. now owns 5,000 shares of the company’s stock valued at $573,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 86.88% of the company’s stock.
Shares of Ashland Inc. (NYSE:ASH) traded up 0.87% on Wednesday, reaching $113.95. 197,834 shares of the company’s stock were exchanged. The company has a market capitalization of $7.08 billion, a P/E ratio of 38.02 and a beta of 1.11. Ashland Inc. has a 1-year low of $88.30 and a 1-year high of $125.00. The stock’s 50-day moving average price is $117.71 and its 200-day moving average price is $115.04.
Ashland (NYSE:ASH) last released its earnings results on Tuesday, July 26th. The company reported $1.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.09. The company earned $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Ashland had a return on equity of 15.90% and a net margin of 3.86%. During the same period in the previous year, the firm posted $1.91 EPS. Analysts anticipate that Ashland Inc. will post $6.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 19th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Wednesday, August 17th. Ashland’s payout ratio is currently 51.32%.
Several brokerages have recently weighed in on ASH. Credit Suisse Group AG downgraded shares of Ashland from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $122.00 to $119.00 in a research note on Thursday, July 28th. Jefferies Group reissued a “buy” rating on shares of Ashland in a report on Thursday, August 4th. Finally, Zacks Investment Research cut shares of Ashland from a “hold” rating to a “sell” rating in a report on Monday, July 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $125.86.
In other news, VP Anne T. Schumann sold 496 shares of the business’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $121.61, for a total value of $60,318.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.27% of the stock is currently owned by insiders.
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
Want to see what other hedge funds are holding ASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ashland Inc. (NYSE:ASH).
Receive News & Ratings for Ashland Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Inc. and related companies with MarketBeat.com's FREE daily email newsletter.