Victory Capital Management Inc. has recently adjusted its significant investment portfolio position in Ashland Inc., a move closely watched by participants in the equity market. This strategic shift, disclosed in their most recent 13F filing with the Securities & Exchange Commission, highlights dynamic changes in institutional investor holdings within the basic materials sector. Such adjustments by large funds often provide crucial investor insights into market sentiment and future outlooks for specific companies like Ashland Inc.
Specifically, Victory Capital Management Inc. lowered its ownership in Ashland Inc. (NYSE:ASH) by 9.1% during the first quarter. This reduction involved selling 1,400 shares, bringing their total shareholding down to 14,029 shares. At the close of the most recent reporting period, the value of Victory Capital Management Inc.’s investment in Ashland was reported at $832,000, underscoring the fund’s considerable, albeit slightly reduced, stake in the company.
Beyond Victory Capital, several other prominent institutional investors have also been active in buying and selling Ashland shares. Vanguard Group Inc., for instance, significantly boosted its position in Ashland by 1.4% in the fourth quarter, accumulating an additional 66,530 shares to now own 4,928,924 shares valued at over $352 million. This substantial increase by one of the largest fund managers signals strong confidence in Ashland Inc.’s long-term prospects within the stock market.
Eminence Capital LP also increased its shareholding in Ashland by 8.0% during the same quarter, adding 212,916 shares to reach 2,860,471 shares, with a market value exceeding $204 million. Similarly, Dimensional Fund Advisors LP and Massachusetts Financial Services Co. MA both demonstrated positive financial strategy adjustments by boosting their Ashland positions by 1.6% and 8.0% respectively, acquiring significant additional shares.
Further reinforcing this trend, Allspring Global Investments Holdings LLC significantly raised its stake in Ashland by 33.1% in the first quarter, purchasing an impressive 569,740 additional shares. These collective movements by institutional investors and hedge funds, which collectively own 93.95% of the company’s stock, indicate a high level of professional interest and strategic positioning within the NYSE ASH market.
From a performance perspective, Ashland Inc. opened at $51.62 per share recently, with its stock experiencing a 1-year low of $45.21 and a 1-year high of $98.44. The stock’s fifty-day simple moving average currently stands at $51.16, while its 200-day simple moving average is $55.65. Key financial health indicators include a robust current ratio of 2.68, a quick ratio of 1.15, and a debt-to-equity ratio of 0.73, reflecting a stable financial position in the equity market.
Additionally, Ashland Inc. has a market capitalization of $2.36 billion. The company’s stock carries a PE ratio of -2.76, a price-to-earnings-growth ratio of 3.16, and a beta of 0.51, providing detailed metrics for potential investors. The firm also recently declared a quarterly dividend of $0.415, paid on June 15th, marking an increase from the previous quarter’s $0.41 dividend. This represents an annualized dividend of $1.66, yielding 3.2%, although the dividend payout ratio (DPR) is currently -8.86%.
Equity research analysts have recently issued various projections and ratings on ASH shares. Mizuho set a $60.00 price objective, while JPMorgan Chase & Co. adjusted their target to $67.00 with an “overweight” rating. Wells Fargo & Company increased their price objective to $53.00, assigning an “equal weight” rating. These analyst projections are crucial for guiding financial news consumers and professional investment strategies.
Finally, UBS Group updated its price objective to $73.00 with a “buy” rating, indicating strong confidence. According to data from MarketBeat.com, Ashland Inc. currently holds a consensus rating of “Hold” among analysts, with a consensus target price of $67.40. These analyst ratings and target prices offer valuable investor insights for those tracking Ashland Inc.’s performance and considering future investment opportunities in the financial market.
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