Ashland Inc. (NYSE:ASH) Shares Bought by Quarry LP

Quarry LP raised its stake in Ashland Inc. (NYSE:ASH) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,926 shares of the basic materials company’s stock after acquiring an additional 428 shares during the quarter. Quarry LP’s holdings in Ashland were worth $138,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Aquatic Capital Management LLC acquired a new position in Ashland in the fourth quarter valued at approximately $726,000. Boothbay Fund Management LLC lifted its holdings in Ashland by 5.7% in the fourth quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 284 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Ashland in the fourth quarter valued at approximately $629,000. Integrated Wealth Concepts LLC raised its stake in shares of Ashland by 6.2% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock worth $257,000 after buying an additional 211 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Ashland by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,025 shares of the basic materials company’s stock valued at $2,075,000 after buying an additional 2,051 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ASH shares. Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Mizuho set a $60.00 target price on shares of Ashland in a research report on Tuesday, April 15th. UBS Group dropped their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their target price on shares of Ashland from $69.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ashland has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insider Buying and Selling at Ashland

In other news, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.02% of the stock is currently owned by company insiders.

Ashland Stock Performance

NYSE:ASH opened at $53.37 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -80.86, a PEG ratio of 1.14 and a beta of 0.70. The company’s 50-day moving average is $55.63 and its two-hundred day moving average is $68.09. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $102.50.

Ashland (NYSE:ASH) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share 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 last year, the business earned $0.45 earnings per share. Analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

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.