Ashland Inc. (NYSE:ASH) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its position in Ashland Inc. (NYSE:ASH - Free Report) by 51.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,875 shares of the basic materials company's stock after selling 223,373 shares during the period. Neuberger Berman Group LLC owned about 0.44% of Ashland worth $14,783,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in Ashland by 105.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company's stock valued at $8,513,000 after acquiring an additional 61,058 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ashland by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company's stock worth $36,964,000 after purchasing an additional 7,709 shares during the period. JPMorgan Chase & Co. increased its stake in Ashland by 66.9% in the third quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company's stock valued at $14,752,000 after purchasing an additional 67,980 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ashland by 703.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company's stock worth $13,206,000 after acquiring an additional 161,812 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Ashland by 29.8% during the 4th quarter. American Century Companies Inc. now owns 171,636 shares of the basic materials company's stock valued at $12,265,000 after purchasing an additional 39,392 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now owns 31,294 shares of the company's stock, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Ashland from $69.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. UBS Group cut their price target on shares of Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com lowered shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upgraded shares of Ashland from a "neutral" rating to an "overweight" rating and upped their price target for the company from $68.00 to $71.00 in a report on Wednesday, March 26th. Finally, Seaport Res Ptn cut Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $73.20.

Ashland Stock Down 0.6 %

ASH stock traded down $0.28 during trading on Wednesday, hitting $50.08. 129,296 shares of the company's stock traded hands, compared to its average volume of 507,314. The business has a fifty day simple moving average of $58.04 and a two-hundred day simple moving average of $70.31. The firm has a market capitalization of $2.36 billion, a P/E ratio of -75.88, a PEG ratio of 1.14 and a beta of 0.70. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $102.50.

Ashland (NYSE:ASH - Get Free Report) last announced its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts' consensus estimates 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 last year, the firm posted $0.45 EPS. Sell-side analysts anticipate that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.23%. Ashland's dividend payout ratio (DPR) is presently -245.45%.

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.