Edgestream Partners L.P. Trims Position in Ashland Inc. $ASH

Edgestream Partners L.P. lowered its position in Ashland Inc. (NYSE:ASH) by 62.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,364 shares of the basic materials company’s stock after selling 109,770 shares during the quarter. Edgestream Partners L.P.’s holdings in Ashland were worth $3,287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Abound Wealth Management acquired a new position in Ashland in the 2nd quarter valued at about $40,000. GAMMA Investing LLC raised its position in shares of Ashland by 93.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,155 shares of the basic materials company’s stock valued at $58,000 after buying an additional 558 shares during the period. Blue Trust Inc. lifted its holdings in Ashland by 44.4% in the second quarter. Blue Trust Inc. now owns 1,291 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 397 shares during the last quarter. IFP Advisors Inc grew its position in Ashland by 2,440.4% in the second quarter. IFP Advisors Inc now owns 1,321 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 1,269 shares during the period. Finally, Allworth Financial LP increased its stake in Ashland by 67.1% during the second quarter. Allworth Financial LP now owns 1,394 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 560 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Trading Up 1.5%

Shares of ASH stock opened at $58.33 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.51 and a current ratio of 2.85. The stock has a market capitalization of $2.67 billion, a P/E ratio of -3.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.45. The company has a 50 day moving average price of $50.09 and a 200 day moving average price of $51.36. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $78.75.

Ashland (NYSE:ASH) last released its earnings results on Thursday, June 9th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter. Ashland had a negative net margin of 46.25% and a positive return on equity of 7.07%. The company had revenue of $509.00 million for the quarter. Equities research analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.415 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.66 dividend on an annualized basis and a yield of 2.8%. Ashland’s dividend payout ratio (DPR) is -9.05%.

Analyst Upgrades and Downgrades

ASH has been the subject of a number of research analyst reports. Argus lowered their price target on Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. Wells Fargo & Company lowered their target price on shares of Ashland from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ashland in a research report on Wednesday, October 8th. Morgan Stanley started coverage on shares of Ashland in a research note on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price target on the stock. Finally, Evercore ISI lowered their price objective on shares of Ashland from $62.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.13.

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.