Patriot Wealth Management Lowers stake in Ashland Inc (ASH)

Ashland Inc (ASH) : Patriot Wealth Management reduced its stake in Ashland Inc by 0.12% during the most recent quarter end. The investment management company now holds a total of 46,994 shares of Ashland Inc which is valued at $5,336,639 after selling 58 shares in Ashland Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Ashland Inc makes up approximately 1.02% of Patriot Wealth Management’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp sold out all of its stake in ASH during the most recent quarter. The investment firm sold 490 shares of ASH which is valued $55,644.

Ashland Inc opened for trading at $112.36 and hit $113.44 on the upside on Friday, eventually ending the session at $113.24, with a gain of 0.50% or 0.56 points. The heightened volatility saw the trading volume jump to 8,19,380 shares. Company has a market cap of $7,028 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.

Investors should note that on Jul 20, 2016, Ashland Inc announced a cash dividend of $0.3900. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 15, 2016.

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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