Retirement Systems of Alabama Grows Stake in Ashland Inc. (NYSE:ASH)

Retirement Systems of Alabama boosted its position in shares of Ashland Inc. (NYSE:ASH) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,176 shares of the basic materials company’s stock after purchasing an additional 197 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Ashland worth $5,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in Ashland during the 4th quarter worth $28,000. Covestor Ltd increased its holdings in shares of Ashland by 338.0% in the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 311 shares during the period. CWM LLC raised its position in shares of Ashland by 163.7% in the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Ashland by 43.1% during the 3rd quarter. Allworth Financial LP now owns 561 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 169 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new stake in shares of Ashland during the 4th quarter worth $67,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Up 0.1 %

Ashland stock opened at $95.85 on Monday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 25.42 and a beta of 0.92. Ashland Inc. has a 52 week low of $70.82 and a 52 week high of $99.55. The business’s 50-day moving average price is $95.62 and its 200 day moving average price is $86.99. The company has a quick ratio of 1.88, a current ratio of 3.15 and a debt-to-equity ratio of 0.42.

Ashland (NYSE:ASH) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.14 by $0.13. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The firm had revenue of $575.00 million for the quarter, compared to analyst estimates of $574.64 million. During the same period last year, the company earned $1.43 earnings per share. Ashland’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ashland Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASH. StockNews.com upgraded Ashland from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Wells Fargo & Company raised Ashland from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $100.00 to $112.00 in a report on Thursday, April 11th. Jefferies Financial Group raised Ashland from a “hold” rating to a “buy” rating and increased their price objective for the company from $100.00 to $126.00 in a report on Thursday, March 14th. Mizuho increased their price objective on Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.11.

Ashland Company 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.