Franklin Resources Inc. Sells 106,095 Shares of Ashland Inc. (NYSE:ASH)

Franklin Resources Inc. lowered its position in shares of Ashland Inc. (NYSE:ASH) by 40.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,692 shares of the basic materials company’s stock after selling 106,095 shares during the quarter. Franklin Resources Inc. owned approximately 0.33% of Ashland worth $13,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Ashland during the third quarter worth approximately $31,000. UMB Bank n.a. increased its holdings in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 251 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ashland in the 3rd quarter valued at $38,000. Assetmark Inc. boosted its stake in Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Ashland by 8,211.1% during the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 739 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their price target on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Wells Fargo & Company dropped their target price on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Finally, StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Insiders Place Their Bets

In related news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Ashland Stock Down 0.1 %

Shares of NYSE:ASH opened at $71.85 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a 50 day moving average of $80.44 and a 200-day moving average of $87.29. Ashland Inc. has a one year low of $71.56 and a one year high of $102.50.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The business had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. Ashland’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, sell-side analysts forecast that Ashland Inc. will post 4.52 earnings per share for the current year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, November 29th. Ashland’s payout ratio is 48.36%.

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.