Ashland Inc. $ASH Shares Bought by Cooperman Leon G

Key Points

• Cooperman Leon G raised its stake in Ashland Inc. by 16.6%, owning approximately 1.69 million shares valued at around $100.45 million, making it the firm's 9th largest position.
• The company recently announced a quarterly dividend of $0.415 per share, representing a yield of 3.0%, with an ex-dividend date set for August 29th.
• Ashland's stock is being closely monitored, with recent target price adjustments by several analysts, including a cut by UBS Group to $64.00 and an upgrade to a "hold" rating by Wall Street Zen.

Cooperman Leon G grew its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,694,151 shares of the basic materials company's stock after purchasing an additional 240,686 shares during the quarter. Ashland accounts for about 4.0% of Cooperman Leon G's holdings, making the stock its 9th biggest holding. Cooperman Leon G owned about 3.71% of Ashland worth $100,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in 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 during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Ashland by 2,736.0% in the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 684 shares during the last quarter. Allworth Financial LP increased 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 acquiring an additional 325 shares during the period. Parallel Advisors LLC increased its holdings in shares of Ashland by 285.7% in the 1st quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock valued at $54,000 after acquiring an additional 677 shares during the period. Finally, Signaturefd LLC increased its holdings 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 acquiring an additional 1,257 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ASH shares. Wall Street Zen raised shares of Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. UBS Group lowered their price target on shares of Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Argus dropped their target price on shares of Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, August 26th. Finally, BMO Capital Markets upped their target price on shares of Ashland from $60.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.67.

Ashland Trading Up 1.2%

NYSE ASH traded up $0.64 during mid-day trading on Friday, hitting $54.88. The company's stock had a trading volume of 483,146 shares, compared to its average volume of 429,547. Ashland Inc. has a 52-week low of $45.21 and a 52-week high of $89.09. The stock's fifty day simple moving average is $53.18 and its two-hundred day simple moving average is $53.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. The firm has a market capitalization of $2.51 billion, a P/E ratio of -2.93, a price-to-earnings-growth ratio of 3.88 and a beta of 0.52.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). The business had revenue of $463.00 million for 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% compared to the same quarter last year. 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. Research analysts expect that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, August 29th. Ashland's payout ratio is presently -8.86%.

Ashland 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.