Custom Index Systems LLC Invests $470,000 in Ashland Inc. (NYSE:ASH)

Custom Index Systems LLC purchased a new position in shares of Ashland Inc. (NYSE:ASH) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,971 shares of the basic materials company’s stock, valued at approximately $470,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Ashland during the 2nd quarter worth $71,000. Neo Ivy Capital Management acquired a new position in shares of Ashland during the 4th quarter worth $67,000. Quadrant Capital Group LLC raised its stake in shares of Ashland by 143.7% during the 4th quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company’s stock worth $68,000 after buying an additional 477 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its stake in Ashland by 45,750.0% in the 4th quarter. TFO Wealth Partners LLC now owns 917 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 915 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Stock Down 1.5 %

ASH opened at $85.01 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.98 and a quick ratio of 1.84. Ashland Inc. has a 12 month low of $70.82 and a 12 month high of $102.50. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88. The business has a 50-day moving average of $90.64 and a two-hundred day moving average of $94.56.

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

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, August 30th. Ashland’s payout ratio is currently 42.97%.

Analyst Ratings Changes

Several research analysts recently weighed in on ASH shares. UBS Group cut their target price on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Ashland from an “underweight” rating to a “neutral” rating and cut their target price for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. Finally, BMO Capital Markets cut their target price on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.50.

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.