Boston Partners Sells 86,931 Shares of Ashland Inc. $ASH

Boston Partners trimmed its holdings in shares of Ashland Inc. (NYSE:ASH) by 60.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,100 shares of the basic materials company’s stock after selling 86,931 shares during the period. Boston Partners owned about 0.12% of Ashland worth $2,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abound Wealth Management bought a new position in Ashland during the second quarter valued at $40,000. GAMMA Investing LLC lifted its position in shares of Ashland by 93.5% during the second quarter. GAMMA Investing LLC now owns 1,155 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 558 shares in the last quarter. Blue Trust Inc. increased its position in shares of Ashland by 44.4% during the second quarter. Blue Trust Inc. now owns 1,291 shares of the basic materials company’s stock valued at $65,000 after buying an additional 397 shares during the period. IFP Advisors Inc lifted its holdings in shares of Ashland by 2,440.4% in the second quarter. IFP Advisors Inc now owns 1,321 shares of the basic materials company’s stock worth $66,000 after buying an additional 1,269 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Ashland by 67.1% during the 2nd quarter. Allworth Financial LP now owns 1,394 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 560 shares during the period. 93.95% of the stock is owned by institutional investors.

Ashland Stock Up 0.7%

NYSE:ASH opened at $52.90 on Friday. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $80.66. The company has a market capitalization of $2.42 billion, a PE ratio of -2.82, a P/E/G ratio of 11.41 and a beta of 0.49. The firm’s 50-day moving average price is $49.58 and its 200-day moving average price is $51.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The business had revenue of $509.00 million for the quarter. Ashland has set its FY 2022 guidance at EPS. On average, equities analysts predict that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.415 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.66 annualized dividend and a yield of 3.1%. Ashland’s payout ratio is -9.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho boosted their target price on Ashland from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Evercore ISI decreased their target price on shares of Ashland from $62.00 to $53.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. BMO Capital Markets increased their target price on Ashland from $60.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, September 2nd. Morgan Stanley initiated coverage on Ashland in a research note on Monday, September 8th. They set an “equal weight” rating and a $60.00 price objective for the company. Finally, Zacks Research downgraded Ashland from a “hold” rating to a “strong sell” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.13.

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.