Ashland (ASH) Declares $0.38 Dividend

Ashland said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.54 annualized). Previously, the company paid $0.34 per share.

Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.

At the current share price of $90.36 / share, the stock's dividend yield is 1.70%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.37%, the lowest has been 1.12%, and the highest has been 2.77%. The standard deviation of yields is 0.20 (n=237).

The current dividend yield is 1.72 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 824 funds or institutions reporting positions in Ashland. This is an increase of 25 owner(s) or 3.13% in the last quarter. Average portfolio weight of all funds dedicated to ASH is 0.38%, a decrease of 3.50%. Total shares owned by institutions decreased in the last three months by 6.44% to 60,361K shares. The put/call ratio of ASH is 0.86, indicating a bullish outlook.

Analyst Price Forecast Suggests 32.30% Upside

As of May 11, 2023, the average one-year price target for Ashland is 119.54. The forecasts range from a low of 99.99 to a high of $149.10. The average price target represents an increase of 32.30% from its latest reported closing price of 90.36.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ashland is 2,555MM, an increase of 6.28%. The projected annual non-GAAP EPS is 6.30.

What are Other Shareholders Doing?

Eminence Capital holds 4,084K shares representing 7.73% ownership of the company. No change in the last quarter.

Neuberger Berman Group holds 1,890K shares representing 3.58% ownership of the company. In it's prior filing, the firm reported owning 1,850K shares, representing an increase of 2.12%. The firm decreased its portfolio allocation in ASH by 52.86% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,538K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 1,456K shares, representing an increase of 5.37%. The firm increased its portfolio allocation in ASH by 4.44% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,478K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 1,461K shares, representing an increase of 1.13%. The firm increased its portfolio allocation in ASH by 5.75% over the last quarter.

Goldman Sachs Group holds 1,340K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 1,385K shares, representing a decrease of 3.34%. The firm decreased its portfolio allocation in ASH by 74.41% over the last quarter.

Ashland Background Information
(This description is provided by the company.)

Ashland Global Holdings Inc. is a premier global specialty materials company serving customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceutical. Ashland has approximately 4,500 employees - from renowned scientists and research chemists to engineers and plant operators - who thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries.

This story originally appeared on Fintel.