Corient Private Wealth LP Invests $1.27 Million in Ashland Inc. $ASH

Key Points

• Corient Private Wealth acquired 19,358 Ashland shares worth approximately $1.27 million during the second quarter. Institutional investors collectively own 93.95% of the company.
• Ashland’s stock opened at $72.96, near its 52-week high of $78.25, with a market capitalization of $3.34 billion. Analysts maintain a “Moderate Buy” consensus and an average price target of $73.90.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 2.3% yield; its payout ratio is notably high at 147.37%.

Corient Private Wealth LP bought a new stake in shares of Ashland Inc. (NYSE:ASH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,358 shares of the basic materials company's stock, valued at approximately $1,275,000.

Several other large investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its stake in Ashland by 59.0% during the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock valued at $34,000 after buying an additional 249 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Ashland during the 2nd quarter valued at $35,000. Danske Bank A S bought a new position in Ashland in the third quarter valued at about $38,000. GAMMA Investing LLC boosted its holdings in shares of Ashland by 38.0% in the second quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company's stock worth $66,000 after buying an additional 277 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Ashland by 398.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,460 shares of the basic materials company's stock worth $70,000 after acquiring an additional 1,167 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Ashland

Here are the key news stories impacting Ashland this week:

• Neutral Sentiment: A renovation of Ashland’s Vaughn Public Library received national recognition. The story concerns a local library and has no apparent connection to Ashland Inc. Ashland's Vaughn Public Library gets national recognition for renovation
• Neutral Sentiment: An Ashland nonprofit launched a vision endowment fund, a community fundraising initiative unrelated to the chemicals company. Ashland nonprofit launches vision endowment fund
• Neutral Sentiment: Honey Baked Ham plans to open in Ashland, representing a local retail development with no direct relevance to ASH. Honey Baked Ham coming to Ashland
• Neutral Sentiment: A high school football preview highlights Ashland-Greenwood’s rushing attack and offensive line ahead of a game with Syracuse. Ashland-Greenwood football preview
• Neutral Sentiment: A circus performance is scheduled for eight shows in Ashland, an entertainment event with no expected impact on Ashland Inc. Cirque du Luxe circus slated for eight shows
• Neutral Sentiment: Indiana University of Pennsylvania defeated Ashland in football, with coverage focused on the game’s score and highlights. IUP beats Ashland on the road
• Neutral Sentiment: Additional live coverage tracks the IUP-Ashland football game and does not involve Ashland Inc. IUP vs. Ashland football live updates
• Neutral Sentiment: A preview discusses Indiana University of Pennsylvania’s upcoming matchup with Ashland and its desire to avenge a prior loss. Hawks looking to avenge last season's opener
• Neutral Sentiment: A veteran received a mortgage-free home in Ashland City, a charitable local event unrelated to ASH. Mortgage-free home given to veteran
• Neutral Sentiment: Ashland City officials are seeking public input on the future of a parks fee, a municipal policy matter with no apparent effect on Ashland Inc. Ashland City Council seeks public input on parks fee

Ashland Stock Down 0.3%

Ashland stock opened at $72.96 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05. The business's 50-day simple moving average is $70.59 and its two-hundred day simple moving average is $62.10. Ashland Inc. has a fifty-two week low of $46.29 and a fifty-two week high of $78.25. The company has a market cap of $3.34 billion, a PE ratio of 64.00, a PEG ratio of 2.20 and a beta of 0.39.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Ashland's dividend payout ratio (DPR) is presently 147.37%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wolfe Research restated an "outperform" rating on shares of Ashland in a research note on Monday, July 27th. UBS Group upped their price target on shares of Ashland from $75.00 to $83.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on shares of Ashland from $50.00 to $70.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Morgan Stanley boosted their target price on shares of Ashland from $58.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Ashland from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.90.

Ashland Company Profile

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

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