Harbor Capital Advisors Inc. Raises Stake in Ashland Inc. $ASH

Key Points

• Harbor Capital Advisors Inc. increased its holdings in Ashland Inc. by 13.2%, owning 175,836 shares valued at approximately $8.84 million as of the end of the most recent quarter.
• Ashland's recent earnings report showed $1.04 EPS, missing estimates by $0.11, alongside a revenue of $463 million which was 14.9% lower year-over-year.
• Analysts have a consensus target price of $61.43 for Ashland stock, with ratings including three "Buy" and four "Hold".

Harbor Capital Advisors Inc. lifted its position in shares of Ashland Inc. (NYSE:ASH - Free Report) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,836 shares of the basic materials company's stock after purchasing an additional 20,533 shares during the period. Harbor Capital Advisors Inc. owned about 0.38% of Ashland worth $8,841,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its position in Ashland by 16.5% during the first quarter. Voya Investment Management LLC now owns 22,029 shares of the basic materials company's stock worth $1,306,000 after buying an additional 3,118 shares during the period. Focus Partners Wealth acquired a new position in Ashland in the first quarter valued at $301,000. Jane Street Group LLC increased its stake in Ashland by 322.9% in the first quarter. Jane Street Group LLC now owns 151,772 shares of the basic materials company's stock valued at $8,999,000 after purchasing an additional 115,883 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ashland by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 152,830 shares of the basic materials company's stock valued at $9,061,000 after purchasing an additional 13,989 shares during the period. Finally, Caxton Associates LLP acquired a new position in Ashland in the first quarter valued at $355,000. Institutional investors and hedge funds own 93.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently 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 report on Thursday, August 7th. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BMO Capital Markets boosted their target price on Ashland from $60.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday, September 2nd. Wells Fargo & Company boosted their price objective on shares of Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley started coverage on shares of Ashland in a research note on Monday, September 8th. They issued an "equal weight" rating and a $60.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Ashland presently has an average rating of "Hold" and an average target price of $61.43.

Ashland Trading Down 4.1%

Shares of NYSE ASH traded down $2.13 during midday trading on Friday, reaching $49.67. 1,306,324 shares of the stock were exchanged, compared to its average volume of 434,796. The company has a market capitalization of $2.27 billion, a P/E ratio of -2.65, a P/E/G ratio of 3.73 and a beta of 0.52. 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 Inc. has a 52-week low of $45.21 and a 52-week high of $88.89. The stock has a 50 day moving average price of $53.02 and a 200-day moving average price of $52.60.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results on Tuesday, July 29th. The basic materials company reported $1.04 EPS 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 analysts' expectations of $479.34 million. Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%.The firm's revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 earnings per share. Ashland has set its FY 2025 guidance at EPS. Equities research analysts expect that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a $0.415 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.66 annualized dividend and a yield of 3.3%. Ashland's payout ratio is -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.