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

Federated Hermes Inc. reduced its stake in Ashland Inc. (NYSE:ASH) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,350 shares of the basic materials company’s stock after selling 194 shares during the period. Federated Hermes Inc. owned approximately 0.09% of Ashland worth $4,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASH. GAMMA Investing LLC raised its position in Ashland by 122.4% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Quest Partners LLC raised its holdings in Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 739 shares in the last quarter. Innealta Capital LLC purchased a new position in Ashland in the second quarter worth approximately $71,000. Neo Ivy Capital Management acquired a new position in Ashland during the 4th quarter worth approximately $67,000. Finally, Quadrant Capital Group LLC increased its position in shares of Ashland by 143.7% in the 4th quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 477 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Price Performance

Shares of NYSE ASH opened at $87.25 on Thursday. The company has a current ratio of 2.98, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The stock has a market cap of $4.37 billion, a P/E ratio of 23.14, a P/E/G ratio of 1.04 and a beta of 0.88. The stock has a 50 day moving average of $89.69 and a two-hundred day moving average of $94.18. Ashland Inc. has a twelve month low of $70.82 and a twelve month high of $102.50.

Ashland (NYSE:ASH) last issued its quarterly earnings results 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 firm had revenue of $544.00 million during the quarter, compared to analysts’ expectations of $577.08 million. Ashland had a net margin of 7.01% and a return on equity of 5.98%. Ashland’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. On average, research analysts forecast that Ashland Inc. will post 4.55 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, August 30th. Ashland’s dividend payout ratio (DPR) is presently 42.97%.

Analyst Ratings Changes

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

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.