AQR Capital Management LLC Has $53.01 Million Holdings in Ashland Inc. $ASH

Key Points

• AQR Capital Management LLC increased its stake in Ashland Inc. by 226.4% during the first quarter, now owning approximately 899,061 shares worth about $53 million.
• Ashland's recent earnings report revealed an EPS of $1.04, missing analysts' expectations, with a revenue decline of 14.9% compared to the previous year.
• The company announced a quarterly dividend of $0.415 per share, representing an annual yield of 3.0%, with the ex-dividend date set for August 29th.

AQR Capital Management LLC grew its position in Ashland Inc. (NYSE:ASH - Free Report) by 226.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 899,061 shares of the basic materials company's stock after purchasing an additional 623,601 shares during the period. AQR Capital Management LLC owned about 1.97% of Ashland worth $53,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after buying an additional 684 shares during the period. UMB Bank n.a. increased its holdings in shares of Ashland by 212.4% in the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after acquiring an additional 480 shares in the last quarter. Allworth Financial LP raised its position in shares of Ashland by 63.9% during the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after purchasing an additional 325 shares during the period. Parallel Advisors LLC raised its position in shares of Ashland by 285.7% during the first quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after purchasing an additional 677 shares during the period. Finally, Signaturefd LLC grew its position in shares of Ashland by 1,745.8% in the 1st quarter. Signaturefd LLC now owns 1,329 shares of the basic materials company's stock valued at $79,000 after purchasing an additional 1,257 shares during the period. Institutional investors and hedge funds own 93.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. UBS Group dropped their price objective on shares of Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Morgan Stanley started coverage on Ashland in a research note on Monday. They issued an "equal weight" rating and a $60.00 price target on the stock. Argus cut their price target on Ashland from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. 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. Finally, Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Ashland has a consensus rating of "Hold" and an average target price of $61.43.

Ashland Stock Performance

Shares of ASH stock traded down $1.80 on Friday, reaching $52.89. The stock had a trading volume of 344,459 shares, compared to its average volume of 399,527. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $89.09. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.82, a P/E/G ratio of 3.94 and a beta of 0.52. The firm's 50-day moving average is $53.28 and its two-hundred day moving average is $52.90. 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 announced its 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). Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%.The firm had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. During the same quarter last year, the business posted $1.49 EPS. Ashland's revenue for the quarter was down 14.9% on a year-over-year basis. Ashland has set its FY 2025 guidance at EPS. On average, research analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

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 dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, August 29th. Ashland's payout ratio is currently -8.86%.

Ashland Company 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.