7 hours Ago By Defense World Staff
Envestnet Asset Management Inc. lessened its stake in shares of Ashland Inc. ( NYSE:ASH – Free Report ) by 12.
1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,330 shares of the basic materials company’s stock after selling 5,428 shares during the quarter. Envestnet Asset Management Inc.
owned about 0.08% of Ashland worth $2,811,000 as of its most recent SEC filing. A number of other large investors have also recently made changes to their positions in the stock.
Raymond James Financial Inc. purchased a new position in shares of Ashland in the fourth quarter worth approximately $28,943,000. Massachusetts Financial Services Co.
MA raised its position in Ashland by 8.0% in the fourth quarter. Massachusetts Financial Services Co.
MA now owns 2,806,922 shares of the basic materials company’s stock worth $200,583,000 after acquiring an additional 208,320 shares during the period. Boston Partners raised its position in Ashland by 47.1% in the fourth quarter.
Boston Partners now owns 577,633 shares of the basic materials company’s stock worth $41,247,000 after acquiring an additional 184,954 shares during the period. SG Americas Securities LLC grew its position in shares of Ashland by 2,060.5% during the 4th quarter.
SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock valued at $12,802,000 after acquiring an additional 170,859 shares during the period. Finally, Assenagon Asset Management S.A.
increased its stake in shares of Ashland by 703.7% in the 4th quarter. Assenagon Asset Management S.
A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after purchasing an additional 161,812 shares in the last quarter. 93.
95% of the stock is currently owned by institutional investors. Wall Street Analysts Forecast Growth Several equities analysts recently weighed in on the company. StockNews.
com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Seaport Res Ptn cut Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group reduced their target price on shares of Ashland from $95.
00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co.
raised shares of Ashland from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $71.00 in a report on Wednesday, March 26th.
Finally, Wells Fargo & Company reduced their price objective on shares of Ashland from $69.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th.
Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Ashland currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.
Ashland Stock Down 0.4 % Shares of ASH opened at $53.14 on Friday.
The business’s 50 day moving average is $55.88 and its 200 day moving average is $68.54.
The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.
51. Ashland Inc. has a 12-month low of $45.
21 and a 12-month high of $102.50. The company has a market capitalization of $2.
51 billion, a PE ratio of -80.51, a price-to-earnings-growth ratio of 1.14 and a beta of 0.
70. Ashland ( NYSE:ASH – Get Free Report ) last released its quarterly earnings data 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 quarter in the prior year, the firm posted $0.45 EPS. Research analysts expect that Ashland Inc.
will post 4.27 earnings per share for the current fiscal year. Insider Buying and Selling at Ashland In other news, CEO Guillermo Novo acquired 31,294 shares of the business’s stock in a transaction dated Friday, January 31st.
The stock was purchased at an average price of $64.24 per share, for a total transaction of $2,010,326.56.
Following the completion of the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position.
The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . 1.02% of the stock is currently owned by insiders.
About Ashland ( Free Report ) 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.
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