T3 Companies LLC bought a new stake in shares of Ashland Inc. (NYSE:ASH – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,880 shares of the basic materials company’s stock, valued at approximately $739,000. Ashland comprises about 0.7% of T3 Companies LLC’s investment portfolio, making the stock its 28th largest holding.
A number of other large investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new stake in Ashland in the second quarter worth $35,000. Bullseye Investment Management LLC purchased a new stake in Ashland during the second quarter valued at about $38,000. Versant Capital Management Inc grew its stake in shares of Ashland by 989.6% during the third quarter. Versant Capital Management Inc now owns 730 shares of the basic materials company’s stock valued at $50,000 after buying an additional 663 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Ashland by 38.0% during the second quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock valued at $66,000 after buying an additional 277 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of Ashland in the second quarter worth about $85,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.
Ashland Trading Up 2.1%
NYSE ASH opened at $73.63 on Friday. Ashland Inc. has a fifty-two week low of $47.12 and a fifty-two week high of $78.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05. The stock has a 50 day simple moving average of $71.48 and a two-hundred day simple moving average of $65.55. The stock has a market cap of $3.37 billion, a P/E ratio of 64.59, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40.
Ashland Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Ashland’s dividend payout ratio (DPR) is presently 147.37%.
Analyst Upgrades and Downgrades
ASH has been the subject of a number of recent research reports. Mizuho boosted their target price on Ashland from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Ashland from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $85.00 price target on shares of Ashland in a research report on Friday, July 31st. Wolfe Research reaffirmed an “outperform” rating on shares of Ashland in a research note on Monday, July 27th. Finally, BMO Capital Markets boosted their price objective on Ashland from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ashland has a consensus rating of “Moderate Buy” and a consensus target price of $74.10.
View Our Latest Report on Ashland
Ashland Profile
Ashland Inc is a global specialty materials company that develops and supplies functional ingredients, additives and solutions for industrial and consumer markets. Its products are used to enhance the performance, stability, texture, appearance and processing of finished goods.
The company serves a range of industries, including pharmaceuticals, personal care, coatings, construction, food and beverages, adhesives and specialty chemicals. Its portfolio includes polymers, cellulose-based ingredients, rheology modifiers, film-forming agents, preservatives and other specialty additives used in applications such as drug delivery, skin and hair care, architectural coatings and building materials.
Ashland traces its roots to 1924, when it was established as Ashland Refining Company in Kentucky.
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