Neuberger Berman Group LLC Has $14.78 Million Holdings in Ashland Inc. (NYSE:ASH)

Neuberger Berman Group LLC decreased its stake in Ashland Inc. (NYSE:ASH) by 51.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 206,875 shares of the basic materials company’s stock after selling 223,373 shares during the period. Neuberger Berman Group LLC’s holdings in Ashland were worth $14,783,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Ashland during the fourth quarter valued at $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland during the 3rd quarter worth about $38,000. Atala Financial Inc bought a new position in Ashland during the 4th quarter valued at about $56,000. Assetmark Inc. boosted its position in Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after buying an additional 454 shares in the last quarter. Finally, Independence Bank of Kentucky grew its stake in Ashland by 302.4% during the fourth quarter. Independence Bank of Kentucky now owns 1,489 shares of the basic materials company’s stock worth $106,000 after buying an additional 1,119 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $71.00 in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.20.

Insiders Place Their Bets

In related news, CEO Guillermo Novo acquired 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Ashland Trading Down 6.3 %

ASH stock opened at $48.49 on Friday. 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 twelve month low of $45.21 and a twelve month high of $102.50. The company has a market cap of $2.29 billion, a P/E ratio of -73.46, a PEG ratio of 1.14 and a beta of 0.70. The business has a fifty day moving average of $58.89 and a 200-day moving average of $71.06.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period in the prior year, the firm earned $0.45 EPS. As a group, equities research analysts expect that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 3.34%. Ashland’s payout ratio is presently -245.45%.

About Ashland

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.