Arkadios Wealth Advisors Takes $594,000 Position in Ashland Inc. (NYSE:ASH)

Key Points

• Arkadios Wealth Advisors has acquired 10,027 shares of Ashland Inc. for approximately $594,000, indicating growing interest in the company from institutional investors.
• Ashland recently reported earnings of $1.04 per share for the quarter, missing expectations, with a significant year-over-year revenue decline of 14.9%.
• The company has also increased its quarterly dividend to $0.415 per share, reflecting a 3.3% yield despite a negative payout ratio of -8.86%.

Arkadios Wealth Advisors purchased a new stake in Ashland Inc. (NYSE:ASH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,027 shares of the basic materials company's stock, valued at approximately $594,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in shares of 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 purchasing an additional 684 shares during the period. UMB Bank n.a. increased its position in Ashland by 212.4% during the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after purchasing an additional 480 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Ashland by 63.9% in the 1st quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 325 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Ashland by 285.7% during the 1st quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock valued at $54,000 after buying an additional 677 shares during the period. Finally, Covestor Ltd raised its position in shares of Ashland by 80.6% in the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock worth $69,000 after buying an additional 428 shares during the period. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Price Performance

NYSE:ASH traded up $1.38 during midday trading on Tuesday, hitting $52.14. 824,169 shares of the stock were exchanged, compared to its average volume of 555,294. Ashland Inc. has a one year low of $45.21 and a one year high of $91.47. The business has a 50-day moving average price of $51.21 and a two-hundred day moving average price of $55.17. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -2.78, a P/E/G ratio of 3.62 and a beta of 0.49. The company has a current ratio of 2.68, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.11). The firm had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%. Ashland's quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. Sell-side analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Wall Street Analyst Weigh In

ASH has been the subject of a number of research analyst reports. Mizuho set a $60.00 target price on shares of Ashland in a research report on Tuesday, April 15th. Wells Fargo & Company increased their target price on Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. decreased their price target on Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. UBS Group reduced their target price on shares of Ashland from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.40.

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.