Ashland Inc. $ASH Holdings Increased by Harbor Capital Advisors Inc.

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

A number of other large investors have also made changes to their positions in the company. Voya Investment Management LLC grew its position in Ashland by 16.5% in the first quarter. Voya Investment Management LLC now owns 22,029 shares of the basic materials company's stock worth $1,306,000 after acquiring an additional 3,118 shares in the last quarter. Focus Partners Wealth bought a new stake in Ashland during the 1st quarter worth about $301,000. Jane Street Group LLC lifted its position in Ashland by 322.9% during the 1st 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 raised its position in shares of Ashland by 10.1% in the 1st 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 acquiring an additional 13,989 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Ashland in the 1st quarter valued at approximately $355,000. Institutional investors and hedge funds own 93.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Argus decreased their price target on shares of Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Tuesday, August 26th. BMO Capital Markets boosted their price target on Ashland from $60.00 to $61.00 and gave the company a "market perform" rating in a research note on Tuesday, September 2nd. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company boosted their price target on 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 initiated coverage on Ashland in a research report on Monday, September 8th. They set an "equal weight" rating and a $60.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.43.

Ashland Price Performance

Shares of ASH stock opened at $51.72 on Tuesday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -2.76, a PEG ratio of 3.80 and a beta of 0.52. 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 Inc. has a twelve month low of $45.21 and a twelve month high of $89.09. The business's fifty day moving average is $53.26 and its 200 day moving average is $52.71.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly 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). Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The business had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. During the same period in the previous year, the company earned $1.49 earnings per share. The company's revenue for the quarter was down 14.9% compared to the same quarter last year. Ashland has set its FY 2025 guidance at EPS. Research analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a $0.415 dividend. This represents a $1.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 29th. Ashland's dividend payout ratio is presently -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.

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