Omega Advisors Lowers stake in Ashland Inc (ASH)

Ashland Inc (ASH) : Omega Advisors reduced its stake in Ashland Inc by 31.16% during the most recent quarter end. The investment management company now holds a total of 824,474 shares of Ashland Inc which is valued at $92,959,444 after selling 373,147 shares in Ashland Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ashland Inc makes up approximately 2.43% of Omega Advisors’s portfolio.

Other Hedge Funds, Including , Phocas Financial Corp. boosted its stake in ASH in the latest quarter, The investment management firm added 2,561 additional shares and now holds a total of 42,322 shares of Ashland Inc which is valued at $4,771,806. Ashland Inc makes up approx 0.33% of Phocas Financial Corp.’s portfolio.Tower Research Capital (trc) boosted its stake in ASH in the latest quarter, The investment management firm added 3,506 additional shares and now holds a total of 3,978 shares of Ashland Inc which is valued at $448,520. Ashland Inc makes up approx 0.04% of Tower Research Capital (trc)’s portfolio.Evercore Trust Company N.a. reduced its stake in ASH by selling 13,136 shares or 0.9% in the most recent quarter. The Hedge Fund company now holds 1,451,118 shares of ASH which is valued at $163,613,555. Ashland Inc makes up approx 0.51% of Evercore Trust Company N.a.’s portfolio. Tlp Group added ASH to its portfolio by purchasing 3,033 company shares during the most recent quarter which is valued at $346,399. Ashland Inc makes up approx 0.21% of Tlp Group’s portfolio.Advisory Services Network boosted its stake in ASH in the latest quarter, The investment management firm added 93 additional shares and now holds a total of 155 shares of Ashland Inc which is valued at $17,602.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *