Pacer Advisors Inc. Acquires 866,320 Shares of Ashland Inc. (NYSE:ASH)

Pacer Advisors Inc. raised its stake in Ashland Inc. (NYSE:ASH) by 6,127.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 880,459 shares of the basic materials company’s stock after buying an additional 866,320 shares during the period. Pacer Advisors Inc.’s holdings in Ashland were worth $76,574,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in shares of Ashland during the third quarter valued at about $31,000. UMB Bank n.a. grew its stake in shares of Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 251 shares during the period. Assetmark Inc. increased its holdings in Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after buying an additional 464 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ashland by 133.8% in the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 372 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Ashland during the 2nd quarter valued at approximately $71,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Performance

Ashland stock opened at $77.74 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.10 and a beta of 0.88. The stock has a fifty day moving average of $84.35 and a two-hundred day moving average of $90.41. Ashland Inc. has a fifty-two week low of $75.04 and a fifty-two week high of $102.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

Ashland (NYSE:ASH) last issued 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). The business had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. On average, analysts anticipate that Ashland Inc. will post 4.82 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.08%. Ashland’s dividend payout ratio is presently 48.36%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised Ashland from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $89.00 in a research note on Thursday, August 8th. BMO Capital Markets decreased their price target on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. UBS Group lowered their price objective 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. Finally, Wells Fargo & Company reduced their price target on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Ashland has an average rating of “Moderate Buy” and a consensus target price of $103.29.

Insider Activity

In other news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on 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 $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

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.