Farmers Trust Co. Takes $2.11 Million Position in Ashland Inc. (NYSE:ASH)

Farmers Trust Co. bought a new position in Ashland Inc. (NYSE:ASH) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 29,456 shares of the basic materials company’s stock, valued at approximately $2,105,000. Farmers Trust Co. owned 0.06% of Ashland as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new position in shares of Ashland in the third quarter worth about $3,134,000. 1832 Asset Management L.P. lifted its position in Ashland by 2.3% in the second quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock valued at $63,492,000 after purchasing an additional 14,938 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ashland by 138.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock valued at $10,501,000 after purchasing an additional 70,145 shares during the period. Lighthouse Investment Partners LLC bought a new position in shares of Ashland in the second quarter worth approximately $2,442,000. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Ashland by 2.4% in the second quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company’s stock worth $54,918,000 after buying an additional 13,577 shares during the period. 93.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Ashland Stock Down 1.3 %

ASH stock traded down $0.94 during trading on Wednesday, hitting $70.31. 167,842 shares of the stock traded hands, compared to its average volume of 454,669. 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 $3.31 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87. Ashland Inc. has a 1 year low of $69.25 and a 1 year high of $102.50. The firm’s 50 day moving average is $76.53 and its two-hundred day moving average is $84.65.

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

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.405 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.30%. Ashland’s payout ratio is 48.36%.

Wall Street Analysts Forecast Growth

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

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.