Neuberger Berman Group LLC Reduces Holdings in Ashland Inc. $ASH

Key Points

• Neuberger Berman Group LLC sold 92,155 shares of Ashland Inc., reducing its stake by 44.5% to approximately 114,720 shares, valued at about $6.8 million.
• Ashland reported a loss of $0.11 per share in its last earnings report, missing analyst estimates, with quarterly revenues down 14.9% compared to the previous year.
• The company's quarterly dividend of $0.415 per share will be paid on September 15, representing an annual yield of 3.1%.

Neuberger Berman Group LLC trimmed its stake in shares of Ashland Inc. (NYSE:ASH - Free Report) by 44.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,720 shares of the basic materials company's stock after selling 92,155 shares during the quarter. Neuberger Berman Group LLC owned 0.25% of Ashland worth $6,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cerity Partners LLC increased its stake in Ashland by 30.3% in the 4th quarter. Cerity Partners LLC now owns 10,465 shares of the basic materials company's stock worth $748,000 after acquiring an additional 2,431 shares during the last quarter. Invesco Ltd. increased its stake in Ashland by 6.4% in the 4th quarter. Invesco Ltd. now owns 379,113 shares of the basic materials company's stock worth $27,091,000 after acquiring an additional 22,876 shares during the last quarter. Renaissance Technologies LLC increased its stake in Ashland by 94.5% in the 4th quarter. Renaissance Technologies LLC now owns 91,775 shares of the basic materials company's stock worth $6,558,000 after acquiring an additional 44,600 shares during the last quarter. Raymond James Financial Inc. bought a new position in Ashland in the 4th quarter worth about $28,943,000. Finally, Sterling Capital Management LLC increased its stake in Ashland by 57.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,000 shares of the basic materials company's stock worth $214,000 after acquiring an additional 1,096 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their target price on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. UBS Group decreased their target price on Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen upgraded Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.60.

Ashland Price Performance

Shares of Ashland stock traded down $0.0360 during trading on Wednesday, hitting $54.0740. 391,157 shares of the stock traded hands, compared to its average volume of 629,945. 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 cap of $2.47 billion, a price-to-earnings ratio of -2.89, a PEG ratio of 3.87 and a beta of 0.49. The firm's fifty day moving average is $51.83 and its 200-day moving average is $54.03. Ashland Inc. has a 52 week low of $45.21 and a 52 week high of $90.61.

Ashland (NYSE:ASH - Get Free Report) last issued its 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). The company had revenue of $463.00 million for the quarter, compared to analysts' expectations of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The company's revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 earnings per share. Ashland has set its FY 2025 guidance at EPS. Research analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $1.66 annualized dividend and a yield of 3.1%. Ashland's dividend payout ratio is currently -8.86%.

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.