1832 Asset Management L.P. Buys 402,286 Shares of Ashland Inc. $ASH

Key Points

• 1832 Asset Management L.P. increased its stake in Ashland Inc. by 48.7% during the 1st quarter, acquiring an additional 402,286 shares and boosting its total ownership to approximately 1.23 million shares worth $72.84 million.
• Ashland recently posted earnings of $1.04 per share for the last quarter, falling short of analyst estimates of $1.15, with revenues also down 14.9% year-over-year at $463 million.
• The company announced a quarterly dividend of $0.415, yielding 2.9%, to be paid on September 15th, signaling continued return to shareholders despite recent earnings challenges.

1832 Asset Management L.P. grew its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 48.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,228,525 shares of the basic materials company's stock after buying an additional 402,286 shares during the quarter. 1832 Asset Management L.P. owned 2.69% of Ashland worth $72,839,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ashland by 276.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,392 shares of the basic materials company's stock valued at $735,000 after buying an additional 9,100 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Ashland by 33.5% in the 1st quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company's stock worth $87,000 after buying an additional 368 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Ashland in the 1st quarter worth approximately $273,000. Vontobel Holding Ltd. raised its holdings in shares of Ashland by 13.3% in the 1st quarter. Vontobel Holding Ltd. now owns 4,012 shares of the basic materials company's stock worth $238,000 after buying an additional 471 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Ashland by 46.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,750 shares of the basic materials company's stock worth $756,000 after buying an additional 4,058 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ASH. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. dropped their target price on Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company increased their target price on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Argus dropped their target price on Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday. Finally, UBS Group dropped their target price on Ashland from $73.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $65.50.

Ashland Price Performance

ASH stock traded up $0.50 during midday trading on Wednesday, reaching $56.59. 378,531 shares of the company's stock traded hands, compared to its average volume of 648,680. The company has a 50-day simple moving average of $52.28 and a two-hundred day simple moving average of $53.75. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $90.61. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -3.02, a PEG ratio of 4.03 and a beta of 0.49. The company has a quick ratio of 1.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.73.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). The business had revenue of $463.00 million for the quarter, compared to analyst estimates of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The company's revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 earnings per share. Ashland has set its FY 2025 guidance at EPS. On average, analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, August 29th. Ashland's dividend payout ratio (DPR) is presently -8.86%.

Ashland 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.