Neuberger Berman Group LLC Has $14.78 Million Position in Ashland Inc. (NYSE:ASH)

Neuberger Berman Group LLC cut its stake in Ashland Inc. (NYSE:ASH) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,875 shares of the basic materials company’s stock after selling 223,373 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.44% of Ashland worth $14,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ASH. Versant Capital Management Inc acquired a new position in Ashland in the 4th quarter worth about $33,000. Wilmington Savings Fund Society FSB acquired a new position in Ashland in the third quarter worth approximately $38,000. Atala Financial Inc acquired a new position in Ashland in the fourth quarter worth approximately $56,000. Assetmark Inc. raised its position in Ashland by 84.1% during the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 454 shares in the last quarter. Finally, Independence Bank of Kentucky grew its position in Ashland by 302.4% in the fourth quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 1,119 shares in the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Price Performance

Shares of NYSE:ASH opened at $48.49 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $58.89 and a 200 day moving average price of $71.06. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -73.46, a PEG ratio of 1.14 and a beta of 0.70. Ashland Inc. has a twelve month low of $45.21 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the prior year, the firm earned $0.45 earnings per share. Research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.34%. Ashland’s dividend payout ratio is -245.45%.

Insiders Place Their Bets

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASH. Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their target price on Ashland from $69.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group decreased their price target on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.20.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.