Ancora Advisors LLC Raises Stake in Ashland Inc. $ASH

Key Points

• Ancora Advisors LLC significantly increased its stake in Ashland Inc. by 21,773.3% during Q1, now owning approximately $3.89 million worth of the company's stock.
• Several institutional investors adjusted their holdings in Ashland, with a notable position increase from Tower Research Capital LLC by 102.2% during the last quarter.
• Ashland's recent quarterly earnings revealed an EPS of $1.04, missing estimates, with revenue down 14.9% year-over-year at $463 million.

Ancora Advisors LLC boosted its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 21,773.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,620 shares of the basic materials company's stock after purchasing an additional 65,320 shares during the period. Ancora Advisors LLC owned about 0.14% of Ashland worth $3,891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASH. Cooperman Leon G increased its position in shares of Ashland by 16.6% during the first quarter. Cooperman Leon G now owns 1,694,151 shares of the basic materials company's stock worth $100,446,000 after buying an additional 240,686 shares during the period. VeriStar Capital Management LP purchased a new position in shares of Ashland in the first quarter worth about $2,597,000. EP Wealth Advisors LLC boosted its stake in Ashland by 123.3% during the first quarter. EP Wealth Advisors LLC now owns 6,533 shares of the basic materials company's stock valued at $387,000 after buying an additional 3,607 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in Ashland in the 1st quarter worth approximately $351,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Ashland in the 1st quarter worth approximately $7,747,000. 93.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ASH has been the subject of a number of recent analyst reports. Argus lowered their price target on shares of Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, August 26th. Morgan Stanley initiated coverage on shares of Ashland in a research note on Monday. They issued an "equal weight" rating and a $60.00 price objective on the stock. Wall Street Zen upgraded shares of Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company lifted their price objective on shares of Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets raised their target price on shares of Ashland from $60.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Ashland currently has a consensus rating of "Hold" and an average target price of $61.43.

Ashland Trading Down 0.7%

Shares of NYSE:ASH traded down $0.38 on Monday, hitting $54.53. 354,853 shares of the company's stock were exchanged, compared to its average volume of 640,209. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. The business's 50 day simple moving average is $53.18 and its two-hundred day simple moving average is $53.12. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -2.91, a price-to-earnings-growth ratio of 3.93 and a beta of 0.52. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $89.09.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.11). The firm had revenue of $463.00 million during the quarter, compared to the consensus estimate of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The business's revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. Ashland has set its FY 2025 guidance at EPS. Analysts anticipate 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. Shareholders of record on Monday, September 1st will be issued a $0.415 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.66 dividend on an annualized basis and a yield of 3.0%. Ashland's payout ratio is currently -8.86%.

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.