University of Texas Texas AM Investment Management Co. Purchases 10,487 Shares of Ashland Inc. (NYSE:ASH)

University of Texas Texas AM Investment Management Co. grew its position in Ashland Inc. (NYSE:ASH) by 335.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,611 shares of the basic materials company’s stock after acquiring an additional 10,487 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Ashland were worth $1,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its position in Ashland by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 21,035 shares of the basic materials company’s stock worth $1,773,000 after buying an additional 210 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Ashland by 45,750.0% during the 4th quarter. TFO Wealth Partners LLC now owns 917 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 915 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Ashland in the 4th quarter valued at $1,434,000. Quadrature Capital Ltd lifted its holdings in Ashland by 167.3% during the 4th quarter. Quadrature Capital Ltd now owns 39,253 shares of the basic materials company’s stock valued at $3,311,000 after purchasing an additional 24,569 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Ashland during the fourth quarter worth $67,000. 93.95% of the stock is owned by institutional investors.

Ashland Trading Down 1.2 %

Shares of Ashland stock opened at $85.95 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 2.98 and a debt-to-equity ratio of 0.45. Ashland Inc. has a 12-month low of $70.82 and a 12-month high of $102.50. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.07 and a beta of 0.88. The firm’s 50-day moving average price is $87.97 and its two-hundred day moving average price is $93.55.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Ashland had a net margin of 7.01% and a return on equity of 5.98%. The business had revenue of $544.00 million for the quarter, compared to analyst estimates of $577.08 million. During the same quarter last year, the business posted $1.23 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts forecast that Ashland Inc. will post 4.55 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.405 per share. The ex-dividend date was Friday, August 30th. This represents a $1.62 annualized dividend and a dividend yield of 1.88%. Ashland’s dividend payout ratio is currently 42.97%.

Wall Street Analyst Weigh In

ASH has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $89.00 in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Friday, September 13th. UBS Group lowered their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, BMO Capital Markets reduced their price target on Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

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.