Jefferies Financial Group Inc. boosted its stake in shares of Ashland Inc. (NYSE:ASH – Free Report) by 775.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,900,000 shares of the basic materials company’s stock after buying an additional 1,682,994 shares during the quarter. Ashland makes up approximately 0.6% of Jefferies Financial Group Inc.’s portfolio, making the stock its 15th biggest position. Jefferies Financial Group Inc.’s holdings in Ashland were worth $111,473,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in Ashland by 3,673.3% during the 3rd quarter. Rothschild Investment LLC now owns 566 shares of the basic materials company’s stock worth $27,000 after buying an additional 551 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $34,000 after buying an additional 249 shares during the period. Danske Bank A S acquired a new position in Ashland during the 3rd quarter worth about $38,000. Aster Capital Management DIFC Ltd acquired a new position in Ashland during the 3rd quarter worth about $53,000. Finally, State of Wyoming acquired a new position in Ashland during the 3rd quarter worth about $57,000. 93.95% of the stock is owned by institutional investors and hedge funds.
Ashland Stock Up 1.7%
Shares of NYSE:ASH opened at $57.20 on Friday. The business’s 50-day moving average is $54.52 and its 200-day moving average is $57.08. Ashland Inc. has a 1 year low of $46.29 and a 1 year high of $65.64. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.06 and a quick ratio of 1.78. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -3.71, a P/E/G ratio of 1.84 and a beta of 0.40.
Ashland Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.42 per share. This is an increase from Ashland’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.9%. Ashland’s dividend payout ratio (DPR) is currently -10.77%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Argus cut their target price on Ashland from $70.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Seaport Research Partners raised Ashland from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, May 6th. UBS Group reissued a “buy” rating and issued a $73.00 price objective on shares of Ashland in a research note on Wednesday, February 4th. Wells Fargo & Company dropped their price objective on Ashland from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $60.00 price objective on shares of Ashland in a research note on Friday, May 1st. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.78.
Get Our Latest Research Report on ASH
Ashland Company Profile
Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.
Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.
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