Federated Hermes Inc. Trims Holdings in Ashland Inc. (NYSE:ASH)

Federated Hermes Inc. lowered its holdings in Ashland Inc. (NYSE:ASH) by 25.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 38,195 shares of the basic materials company’s stock after selling 13,075 shares during the quarter. Federated Hermes Inc.’s holdings in Ashland were worth $2,729,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Stifel Financial Corp boosted its holdings in Ashland by 1.3% in the third quarter. Stifel Financial Corp now owns 36,943 shares of the basic materials company’s stock valued at $3,213,000 after acquiring an additional 486 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of Ashland by 25.7% during the 3rd quarter. MML Investors Services LLC now owns 4,729 shares of the basic materials company’s stock valued at $411,000 after purchasing an additional 966 shares in the last quarter. Barclays PLC increased its position in shares of Ashland by 323.1% during the third quarter. Barclays PLC now owns 71,689 shares of the basic materials company’s stock valued at $6,236,000 after buying an additional 54,745 shares during the period. Geode Capital Management LLC raised its stake in Ashland by 0.3% in the third quarter. Geode Capital Management LLC now owns 827,642 shares of the basic materials company’s stock worth $72,000,000 after buying an additional 2,316 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Ashland in the third quarter worth about $38,000. 93.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Guillermo Novo purchased 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at $2,010,326.56. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Ashland Price Performance

ASH opened at $50.42 on Monday. The firm has a market cap of $2.38 billion, a PE ratio of -76.39, a P/E/G ratio of 1.14 and a beta of 0.70. The stock has a 50-day moving average price of $58.61 and a 200-day moving average price of $70.71. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) 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 quarter in the previous year, the firm earned $0.45 earnings per share. Sell-side analysts predict that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.21%. Ashland’s dividend payout ratio is -245.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ASH shares. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th. UBS Group decreased their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Ashland from $69.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ashland has a consensus rating of “Moderate Buy” and a consensus price target of $83.20.

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.