Ashland (NYSE:ASH) Issues Quarterly Earnings Results

Ashland (NYSE:ASH - Get Free Report) announced its earnings results on Tuesday, April 28th. The basic materials company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.06), Zacks reports. Ashland had a negative net margin of 39.03% and a positive return on equity of 8.06%. The business had revenue of $482.00 million for the quarter, compared to the consensus estimate of $485.61 million. During the same period in the previous year, the firm earned $0.99 EPS. The firm's revenue was up .6% on a year-over-year basis.

Ashland Trading Up 3.9%

Shares of ASH opened at $56.64 on Tuesday. The business's 50-day moving average price is $54.38 and its 200 day moving average price is $56.94. The company has a current ratio of 3.06, a quick ratio of 1.78 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2.59 billion, a P/E ratio of -3.67, a P/E/G ratio of 1.75 and a beta of 0.40. Ashland has a 1-year low of $46.29 and a 1-year high of $65.64.

Ashland Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.68 dividend on an annualized basis and a yield of 3.0%. This is an increase from Ashland's previous quarterly dividend of $0.41. Ashland's dividend payout ratio (DPR) is -10.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ASH shares. Argus decreased their target price on Ashland from $70.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Morgan Stanley set a $58.00 price target on shares of Ashland in a research report on Monday, May 4th. Wells Fargo & Company cut their price target on shares of Ashland from $60.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Ashland in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of Ashland from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Ashland currently has an average rating of "Hold" and an average price target of $62.78.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in shares of Ashland by 59.0% during the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 249 shares during the period. Danske Bank A S acquired a new position in Ashland in the 3rd quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd grew its position in Ashland by 398.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,460 shares of the basic materials company's stock worth $70,000 after purchasing an additional 1,167 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Ashland by 76.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,098 shares of the basic materials company's stock worth $101,000 after purchasing an additional 911 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Ashland during the 4th quarter valued at $125,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Ashland

Here are the key news stories impacting Ashland this week:

• Positive Sentiment: Ashland added Bertrand Loy, executive chair of Entegris, to its board and expanded the board from eight to nine members. The company said his background in technology, operations, and growth could help support its strategy to “execute, globalize, innovate and invest.” Ashland Board appoints Bertrand Loy as new director
• Neutral Sentiment: The appointment also puts Loy on the audit and governance and nominating committees, which may improve oversight, but it does not directly change Ashland’s near-term financial performance. Ashland Adds Independent Director, Expands Board for Growth
• Neutral Sentiment: Several unrelated local news items mentioning “Ashland” appeared in the feed, including storm damage and accident reports, but they do not appear to be connected to Ashland Inc. or its stock.
• Negative Sentiment: No major company-specific negative catalyst was reported in these articles. However, the stock remains below its recent high and Ashland’s last quarterly results missed EPS and revenue estimates, which may keep some investors cautious.

About Ashland

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.