Leavell Investment Management Inc. Sells 500 Shares of Ashland Inc. (NYSE:ASH)

Leavell Investment Management Inc. trimmed its holdings in Ashland Inc. (NYSE:ASH) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,000 shares of the basic materials company’s stock after selling 500 shares during the quarter. Leavell Investment Management Inc.’s holdings in Ashland were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ASH. Prospera Private Wealth LLC bought a new position in Ashland in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in Ashland in the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new position in Ashland in the 3rd quarter worth approximately $38,000. Assetmark Inc. boosted its stake in Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Ashland in the 3rd quarter worth approximately $72,000. 93.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ASH. BMO Capital Markets upped their price target on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. UBS Group decreased their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Ashland has an average rating of “Moderate Buy” and an average price target of $95.57.

Ashland Stock Performance

NYSE:ASH opened at $64.98 on Friday. The stock’s fifty day moving average is $69.97 and its 200 day moving average is $79.74. Ashland Inc. has a fifty-two week low of $60.60 and a fifty-two week high of $102.50. The firm has a market capitalization of $3.07 billion, a PE ratio of -98.45, a PEG ratio of 1.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52.

Ashland (NYSE:ASH) last released its quarterly 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 period in the previous year, the business posted $0.45 EPS. On average, sell-side analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.49%. Ashland’s payout ratio is -245.45%.

Insiders Place Their Bets

In other Ashland news, VP Eric N. Boni sold 451 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the sale, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.02% of the company’s stock.

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.