Amundi Has $2.73 Million Stake in Ashland Inc. $ASH

Key Points

• Amundi significantly increased its stake in Ashland Inc. by 417,809.1% during the first quarter, bringing its total holdings to 45,970 shares valued at approximately $2.7 million.
• Institutional investors currently own 93.95% of Ashland's stock, indicating strong institutional interest in the company.
• Analysts have mixed ratings on Ashland, with a consensus *"Hold"* rating and an average price target of $61.43, while the company recently declared a dividend of $0.415 per share.

Amundi grew its position in Ashland Inc. (NYSE:ASH - Free Report) by 417,809.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,970 shares of the basic materials company's stock after acquiring an additional 45,959 shares during the quarter. Amundi owned about 0.10% of Ashland worth $2,726,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ASH. Jane Street Group LLC boosted its holdings in shares of Ashland by 13.9% in the fourth quarter. Jane Street Group LLC now owns 35,889 shares of the basic materials company's stock valued at $2,565,000 after acquiring an additional 4,379 shares during the period. Bank of America Corp DE raised its position in Ashland by 100.5% in the fourth quarter. Bank of America Corp DE now owns 306,810 shares of the basic materials company's stock worth $21,925,000 after acquiring an additional 153,757 shares in the last quarter. Captrust Financial Advisors raised its position in Ashland by 7.9% in the fourth quarter. Captrust Financial Advisors now owns 10,112 shares of the basic materials company's stock worth $723,000 after acquiring an additional 741 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Ashland in the fourth quarter valued at $209,000. Finally, Gotham Asset Management LLC increased its position in shares of Ashland by 68.1% in the fourth quarter. Gotham Asset Management LLC now owns 44,950 shares of the basic materials company's stock valued at $3,212,000 after buying an additional 18,213 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group dropped their price target on Ashland from $73.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Morgan Stanley started coverage on Ashland in a research report on Monday, September 8th. They set an "equal weight" rating and a $60.00 price objective for the company. BMO Capital Markets lifted their price objective on Ashland from $60.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 2nd. Finally, Argus dropped their price objective on Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ashland currently has an average rating of "Hold" and an average price target of $61.43.

Ashland Stock Performance

NYSE ASH traded up $1.09 during trading on Wednesday, hitting $52.35. The company's stock had a trading volume of 103,143 shares, compared to its average volume of 629,757. The company has a quick ratio of 1.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $53.21 and a 200 day moving average price of $52.70. The firm has a market cap of $2.39 billion, a P/E ratio of -2.79, a price-to-earnings-growth ratio of 3.73 and a beta of 0.52. Ashland Inc. has a 52 week low of $45.21 and a 52 week 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 (EPS) for the quarter, missing analysts' consensus estimates 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 negative net margin of 46.01% and a positive return on equity of 6.82%. The business's revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. Ashland has set its FY 2025 guidance at EPS. Equities research analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were given a dividend of $0.415 per share. The ex-dividend date was Friday, August 29th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.2%. 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.