Los Angeles Capital Management LLC Sells 44,180 Shares of Ashland Inc. (NYSE:ASH)

Los Angeles Capital Management LLC decreased its position in Ashland Inc. (NYSE:ASH) by 94.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,739 shares of the basic materials company’s stock after selling 44,180 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ashland were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its stake in Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares during the last quarter. Assetmark Inc. grew its position in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 464 shares during the last quarter. GAMMA Investing LLC increased its holdings in Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 372 shares in the last quarter. Quest Partners LLC increased its holdings in Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 739 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Ashland in the second quarter worth $71,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Stock Performance

ASH stock opened at $77.04 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ashland Inc. has a twelve month low of $76.33 and a twelve month high of $102.50. The business’s fifty day moving average is $84.82 and its 200-day moving average is $90.73. The company has a market cap of $3.76 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The company had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. Ashland’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Equities research analysts forecast that Ashland Inc. will post 4.82 EPS for the current year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, November 29th. Ashland’s payout ratio is presently 48.36%.

Insiders Place Their Bets

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. UBS Group dropped their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, BMO Capital Markets decreased their price objective on Ashland from $105.00 to $92.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.57.

About Ashland

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.