5,982 Shares in Ashland Inc. $ASH Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 5,982 shares of Ashland Inc. valued at approximately $355,000, highlighting interest from institutional investors in the company.
• Ashland Inc. reported a loss in earnings per share for the last quarter, posting $1.04, which missed analysts' expectations of $1.15, alongside a revenue drop of 14.9% year-over-year.
• The company announced a quarterly dividend of $0.415, representing an annualized yield of 3.1%, amid a high institutional ownership rate of 93.95%.

Caxton Associates LLP acquired a new stake in Ashland Inc. (NYSE:ASH - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 5,982 shares of the basic materials company's stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of Ashland by 33.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,291,157 shares of the basic materials company's stock valued at $132,383,000 after purchasing an additional 569,740 shares during the period. Cooperman Leon G grew its position in shares of Ashland by 16.6% in the 1st quarter. Cooperman Leon G now owns 1,694,151 shares of the basic materials company's stock valued at $100,446,000 after purchasing an additional 240,686 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Ashland by 7.4% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,683,627 shares of the basic materials company's stock valued at $99,822,000 after purchasing an additional 115,811 shares during the period. 1832 Asset Management L.P. boosted its stake in Ashland by 48.7% in the 1st quarter. 1832 Asset Management L.P. now owns 1,228,525 shares of the basic materials company's stock worth $72,839,000 after purchasing an additional 402,286 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Ashland by 226.4% in the 1st quarter. AQR Capital Management LLC now owns 899,061 shares of the basic materials company's stock worth $53,009,000 after purchasing an additional 623,601 shares during the period. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Price Performance

NYSE:ASH opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.68. The stock's 50-day simple moving average is $53.28 and its 200 day simple moving average is $52.90. The company has a market cap of $2.42 billion, a P/E ratio of -2.82, a P/E/G ratio of 3.94 and a beta of 0.52. Ashland Inc. has a 52-week low of $45.21 and a 52-week high of $89.09.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). The company had revenue of $463.00 million during 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%. Ashland's revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 EPS. Ashland has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 29th. Ashland's dividend payout ratio is presently -8.86%.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group dropped their price target on Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen upgraded Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Morgan Stanley began coverage on Ashland in a report on Monday, September 8th. They set an "equal weight" rating and a $60.00 price objective for the company. Argus decreased their price objective on Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, August 26th. Finally, Wells Fargo & Company increased their price objective on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.43.

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.

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