Ashland Inc (ASH) : Point72 Asia (singapore) Pte. Ltd. reduced its stake in Ashland Inc by 71.43% during the most recent quarter end. The investment management company now holds a total of 100,000 shares of Ashland Inc which is valued at $11,275,000 after selling 250,000 shares in Ashland Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ashland Inc makes up approximately 8.39% of Point72 Asia (singapore) Pte. Ltd.’s portfolio.
Other Hedge Funds, Including , Mastrapasqua Asset Management Inc boosted its stake in ASH in the latest quarter, The investment management firm added 1,725 additional shares and now holds a total of 7,545 shares of Ashland Inc which is valued at $850,699. Ashland Inc makes up approx 0.20% of Mastrapasqua Asset Management Inc’s portfolio.Johnson Investment Counsel Inc boosted its stake in ASH in the latest quarter, The investment management firm added 603 additional shares and now holds a total of 2,512 shares of Ashland Inc which is valued at $283,228. Ashland Inc makes up approx 0.01% of Johnson Investment Counsel Inc’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in ASH in the latest quarter, The investment management firm added 13,192 additional shares and now holds a total of 1,897,399 shares of Ashland Inc which is valued at $213,931,737. Ashland Inc makes up approx 0.03% of Blackrock Institutional Trust Company N.a.’s portfolio.Shinko Asset Management Ltd. reduced its stake in ASH by selling 43 shares or 20.98% in the most recent quarter. The Hedge Fund company now holds 162 shares of ASH which is valued at $19,827.Checchi Capital Advisers reduced its stake in ASH by selling 121 shares or 9.45% in the most recent quarter. The Hedge Fund company now holds 1,159 shares of ASH which is valued at $141,850. Ashland Inc makes up approx 0.03% of Checchi Capital Advisers’s portfolio.
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 Companys 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.