Reinhart Partners buys $25,397,688 stake in Ashland Inc (ASH)

Ashland Inc (ASH) : Reinhart Partners scooped up 1,853 additional shares in Ashland Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 219,248 shares of Ashland Inc which is valued at $25,397,688.Ashland Inc makes up approximately 2.56% of Reinhart Partners’s portfolio.

Ashland Inc opened for trading at $114.6 and hit $116.2525 on the upside on Friday, eventually ending the session at $115.84, with a gain of 1.48% or 1.69 points. The heightened volatility saw the trading volume jump to 3,29,959 shares. Company has a market cap of $7,324 M.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in ASH in the latest quarter, The investment management firm added 814 additional shares and now holds a total of 25,686 shares of Ashland Inc which is valued at $2,899,693. Ashland Inc makes up approx 0.07% of Oregon Public Employees Retirement Fund’s portfolio.Simplex Trading boosted its stake in ASH in the latest quarter, The investment management firm added 1,985 additional shares and now holds a total of 2,810 shares of Ashland Inc which is valued at $317,221. Ashland Inc makes up approx 0.05% of Simplex Trading’s portfolio.British Columbia Investment Management Corp reduced its stake in ASH by selling 18,634 shares or 56.95% in the most recent quarter. The Hedge Fund company now holds 14,087 shares of ASH which is valued at $1,543,653. Ashland Inc makes up approx 0.01% of British Columbia Investment Management Corp’s portfolio.

On the company’s financial health, Ashland Inc reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 25, 2016. Analyst had a consensus of $1.39. The company had revenue of $1200.00 million for the quarter, compared to analysts expectations of $1224.30 million. The company’s revenue was down -14.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.46 EPS.

Many Wall Street Analysts have commented on Ashland Inc. Company shares were Resumed by Credit Suisse on Mar 24, 2016 to “Outperform”, Firm has raised the Price Target to $ 118 from a previous price target of $109 .Shares were Reiterated by Monness Crespi & Hardt on Jan 27, 2016 to “Buy” and Lowered the Price Target to $ 130 from a previous price target of $136 .

Ashland Inc. (Ashland) is a specialty chemical company that provides products services and solutions to industries. The Company’s segments are: Ashland Specialty Ingredients offers products technologies and resources in key markets including personal and home care pharmaceutical food and beverage coatings construction energy and other industries; Ashland Water Technologies is a supplier of specialty chemicals and services to the pulp paper mining food and beverage power generation refining chemical processing general manufacturing and municipal markets. Ashland Performance Materials helps customers to create substitutes for traditional materials through higher performing cost-efficient resin and adhesive technologies that improve the manufacturing fabrication and design process and Ashland Consumer Markets delivers premium-branded automotive commercial and industrial lubricants automotive chemicals and car-care products.

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