Federated Hermes Inc. Sells 19,627 Shares of Ashland Inc. (NYSE:ASH)

Key Points

• Federated Hermes Inc. significantly reduced its holdings in Ashland Inc. by 51.4% during the 1st quarter, now owning 18,568 shares worth approximately $1.1 million.
• Analysts have mixed ratings for Ashland, with Wells Fargo raising its price target to $53.00, while JPMorgan lowered theirs to $67.00, reflecting the volatility in investor sentiment.
• Ashland reported disappointing earnings recently, posting $1.04 EPS, missing estimates and showing a 14.9% year-over-year revenue decline.

Federated Hermes Inc. decreased its position in Ashland Inc. (NYSE:ASH - Free Report) by 51.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,568 shares of the basic materials company's stock after selling 19,627 shares during the quarter. Federated Hermes Inc.'s holdings in Ashland were worth $1,101,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ASH. Wealth Enhancement Advisory Services LLC grew its position in Ashland by 276.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,392 shares of the basic materials company's stock worth $735,000 after buying an additional 9,100 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Ashland by 33.5% during the 1st quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company's stock valued at $87,000 after acquiring an additional 368 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ashland during the 1st quarter worth $273,000. Ceredex Value Advisors LLC increased its position in shares of Ashland by 18.0% in the fourth quarter. Ceredex Value Advisors LLC now owns 148,433 shares of the basic materials company's stock worth $10,607,000 after purchasing an additional 22,600 shares during the period. Finally, Vontobel Holding Ltd. increased its position in shares of Ashland by 13.3% in the first quarter. Vontobel Holding Ltd. now owns 4,012 shares of the basic materials company's stock worth $238,000 after purchasing an additional 471 shares during the period. Institutional investors own 93.95% of the company's stock.

Ashland Stock Down 1.3%

NYSE ASH traded down $0.67 on Friday, reaching $52.08. The company had a trading volume of 595,623 shares, compared to its average volume of 666,675. Ashland Inc. has a 52-week low of $45.21 and a 52-week high of $90.61. The company has a quick ratio of 1.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2.38 billion, a P/E ratio of -2.78, a P/E/G ratio of 3.70 and a beta of 0.49. The company's fifty day moving average is $51.31 and its 200 day moving average is $54.99.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.11). Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%. The firm had revenue of $463.00 million for the quarter, compared to analysts' expectations of $479.34 million. During the same quarter last year, the firm posted $1.49 earnings per share. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. Sell-side analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 3.2%. Ashland's dividend payout ratio (DPR) is currently -8.86%.

Analysts Set New Price Targets

ASH has been the subject of a number of recent analyst reports. Mizuho set a $60.00 price target on shares of Ashland in a report on Tuesday, April 15th. Wells Fargo & Company upped their target price on Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. UBS Group dropped their price objective on Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $65.60.

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.