Ashland Inc. (ASH) Stake Increased by Henderson Group PLC
Henderson Group PLC increased its position in shares of Ashland Inc. (NYSE:ASH) by 36.2% during the second quarter, Holdings Channel reports. The fund owned 60,133 shares of the company’s stock after buying an additional 15,989 shares during the period. Henderson Group PLC’s holdings in Ashland were worth $6,904,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of ASH. Strs Ohio increased its stake in shares of Ashland by 1.7% in the second quarter. Strs Ohio now owns 103,914 shares of the company’s stock valued at $11,926,000 after buying an additional 1,702 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Ashland during the second quarter valued at $10,204,000. 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 in the last quarter. Parametrica Management Ltd acquired a new stake in shares of Ashland during the second quarter valued at $439,000. Finally, LS Investment Advisors LLC increased its stake in shares of Ashland by 51.2% in the second quarter. LS Investment Advisors LLC now owns 6,944 shares of the company’s stock valued at $797,000 after buying an additional 2,352 shares in the last quarter. 86.87% of the stock is currently owned by institutional investors.
Shares of Ashland Inc. (NYSE:ASH) traded up 0.36% on Tuesday, hitting $113.96. The stock had a trading volume of 414,146 shares. Ashland Inc. has a 52-week low of $88.30 and a 52-week high of $125.00. The firm’s 50-day moving average price is $117.42 and its 200 day moving average price is $115.17. The firm has a market cap of $7.08 billion, a PE ratio of 38.02 and a beta of 1.11.
Ashland (NYSE:ASH) last issued its quarterly 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 had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Ashland had a return on equity of 15.90% and a net margin of 3.86%. During the same quarter last year, the company earned $1.91 EPS. On average, equities research analysts predict that Ashland Inc. will post $6.81 EPS for the current year.
Several brokerages have weighed in on ASH. Zacks Investment Research downgraded Ashland from a “hold” rating to a “sell” rating in a report on Friday, October 7th. Jefferies Group reissued a “buy” rating on shares of Ashland in a report on Tuesday, September 13th. Finally, Credit Suisse Group AG downgraded Ashland from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $122.00 to $119.00 in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $125.00.
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.