Allspring Global Investments Holdings LLC Has $151.13 Million Stock Holdings in Ashland Inc. (NYSE:ASH)

Allspring Global Investments Holdings LLC grew its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,737,738 shares of the basic materials company's stock after buying an additional 103,517 shares during the period. Allspring Global Investments Holdings LLC owned 3.47% of Ashland worth $151,131,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company's stock worth $27,000 after purchasing an additional 153 shares during the last quarter. UMB Bank n.a. lifted its holdings in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock worth $33,000 after purchasing an additional 251 shares during the last quarter. Quest Partners LLC lifted its holdings in Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company's stock worth $71,000 after purchasing an additional 739 shares during the last quarter. Innealta Capital LLC acquired a new stake in Ashland during the 2nd quarter worth approximately $71,000. Finally, Ecofi Investissements SA acquired a new stake in Ashland during the 2nd quarter worth approximately $74,000. 93.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ASH has been the subject of several research reports. JPMorgan Chase & Co. raised Ashland from an "underweight" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $89.00 in a report on Thursday, August 8th. UBS Group dropped their price target on Ashland from $116.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, August 15th. BMO Capital Markets dropped their price target on Ashland from $105.00 to $92.00 and set a "market perform" rating for the company in a report on Friday, August 9th. Wells Fargo & Company lowered their price objective on Ashland from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Ashland currently has an average rating of "Moderate Buy" and a consensus target price of $103.50.

Ashland Price Performance

ASH stock traded down $0.03 during midday trading on Friday, reaching $87.75. 215,658 shares of the stock were exchanged, compared to its average volume of 419,551. The stock has a market capitalization of $4.40 billion, a PE ratio of 23.28, a P/E/G ratio of 1.11 and a beta of 0.88. Ashland Inc. has a 52 week low of $70.82 and a 52 week high of $102.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.98 and a quick ratio of 1.84. The company has a fifty day moving average price of $86.46 and a 200 day moving average price of $92.61.

Ashland (NYSE:ASH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The business had revenue of $544.00 million for the quarter, compared to analyst estimates of $577.08 million. Ashland had a return on equity of 5.98% and a net margin of 7.01%. Ashland's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. As a group, analysts expect that Ashland Inc. will post 4.52 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Friday, August 30th. Ashland's payout ratio is presently 42.97%.

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.