Neuberger Berman Group LLC Has $4.95 Million Stock Position in Ashland Inc. $ASH

Neuberger Berman Group LLC cut its stake in shares of Ashland Inc. (NYSE:ASH) by 14.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,504 shares of the basic materials company’s stock after selling 16,216 shares during the period. Neuberger Berman Group LLC owned approximately 0.22% of Ashland worth $4,953,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Choreo LLC acquired a new stake in shares of Ashland in the 2nd quarter valued at approximately $248,000. Prudential Financial Inc. increased its stake in Ashland by 21.0% in the second quarter. Prudential Financial Inc. now owns 5,203 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 903 shares in the last quarter. American Century Companies Inc. raised its holdings in Ashland by 2.7% in the second quarter. American Century Companies Inc. now owns 123,798 shares of the basic materials company’s stock worth $6,225,000 after purchasing an additional 3,249 shares during the period. Franklin Resources Inc. boosted its position in shares of Ashland by 3.9% during the second quarter. Franklin Resources Inc. now owns 122,863 shares of the basic materials company’s stock worth $6,178,000 after purchasing an additional 4,619 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Ashland by 3.7% in the 2nd quarter. Swiss National Bank now owns 90,100 shares of the basic materials company’s stock valued at $4,530,000 after buying an additional 3,200 shares during the period. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Stock Up 0.7%

Shares of ASH opened at $52.90 on Friday. The firm’s 50 day moving average is $49.58 and its 200-day moving average is $51.24. The stock has a market capitalization of $2.42 billion, a PE ratio of -2.82, a P/E/G ratio of 11.41 and a beta of 0.49. The company has a current ratio of 2.68, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $80.66.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Thursday, June 9th. The basic materials company reported $0.56 EPS for the quarter. Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%.The business had revenue of $509.00 million during the quarter. Ashland has set its FY 2022 guidance at EPS. Equities research analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.415 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.66 annualized dividend and a dividend yield of 3.1%. Ashland’s payout ratio is -9.05%.

Analyst Ratings Changes

Several research analysts have weighed in on ASH shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Ashland in a report on Wednesday, October 8th. UBS Group reduced their target price on shares of Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Zacks Research downgraded shares of Ashland from a “hold” rating to a “strong sell” rating in a research note on Friday, October 24th. BMO Capital Markets increased their price target on Ashland from $60.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen raised Ashland from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.13.

About Ashland

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.