Neuberger Berman Group LLC Sells 16,216 Shares of Ashland Inc. $ASH

Neuberger Berman Group LLC lessened its position in Ashland Inc. (NYSE:ASH) by 14.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 98,504 shares of the basic materials company’s stock after selling 16,216 shares during the period. Neuberger Berman Group LLC’s holdings in Ashland were worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Amundi increased its stake in shares of Ashland by 417,809.1% in the first quarter. Amundi now owns 45,970 shares of the basic materials company’s stock worth $2,726,000 after purchasing an additional 45,959 shares during the period. Vident Advisory LLC bought a new position in Ashland in the 1st quarter worth approximately $282,000. Pallas Capital Advisors LLC lifted its holdings in shares of Ashland by 455.4% during the second quarter. Pallas Capital Advisors LLC now owns 22,727 shares of the basic materials company’s stock worth $1,143,000 after buying an additional 18,635 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Ashland in the first quarter valued at approximately $355,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Ashland by 13.2% in the second quarter. Harbor Capital Advisors Inc. now owns 175,836 shares of the basic materials company’s stock worth $8,841,000 after acquiring an additional 20,533 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ASH. Zacks Research cut shares of Ashland from a “hold” rating to a “strong sell” rating in a research note on Friday, October 24th. Wall Street Zen raised shares of Ashland from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Mizuho lifted their target price on Ashland from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Morgan Stanley started coverage on Ashland in a report on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price target for the company. Finally, Evercore ISI lowered their price objective on Ashland from $62.00 to $53.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.13.

Ashland Stock Down 2.4%

NYSE ASH opened at $59.15 on Monday. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $75.34. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -3.22, a PEG ratio of 0.99 and a beta of 0.45. The stock’s 50 day moving average is $51.58 and its two-hundred day moving average is $51.78. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.73.

Ashland (NYSE:ASH) last posted its 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 7.07% and a negative net margin of 46.25%.The business had revenue of $509.00 million during the quarter. Equities analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.415 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.66 annualized dividend and a dividend yield of 2.8%. Ashland’s dividend payout ratio is presently -9.05%.

Ashland 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.