Banbury Partners adds Ashland Inc (ASH) to its portfolio

Ashland Inc (ASH) : Banbury Partners added new position in Ashland Inc during the most recent quarter end. The investment management firm now holds 246,274 shares of Ashland Inc which is valued at $27,767,394 , the company said in a statement filed on Aug 15, 2016 with the SEC.Ashland Inc makes up approximately 9.85% of Banbury Partners’s portfolio.

Other Hedge Funds, Including , Millennium Management boosted its stake in ASH in the latest quarter, The investment management firm added 48,557 additional shares and now holds a total of 267,250 shares of Ashland Inc which is valued at $30,132,438. Ashland Inc makes up approx 0.08% of Millennium Management’s portfolio. Cipher Capital Lp sold out all of its stake in ASH during the most recent quarter. The investment firm sold 4,452 shares of ASH which is valued $501,963. Timessquare Capital Management sold out all of its stake in ASH during the most recent quarter. The investment firm sold 367,100 shares of ASH which is valued $41,390,525.

Ashland Inc opened for trading at $116.98 and hit $117.75 on the upside on Thursday, eventually ending the session at $117.62, with a gain of 0.46% or 0.54 points. The heightened volatility saw the trading volume jump to 2,45,591 shares. Company has a market cap of $7,304 M.

On the company’s financial health, Ashland Inc reported $1.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.74. The company had revenue of $1247.00 million for the quarter, compared to analysts expectations of $1251.60 million. The company’s revenue was down -7.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.03 EPS.

Many Wall Street Analysts have commented on Ashland Inc. Ashland Inc was Downgraded by Credit Suisse to ” Neutral” on Jul 28, 2016.

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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