Ieq Capital LLC Grows Stock Holdings in Ashland Inc. $ASH

Key Points

• Ieq Capital LLC increased its stake in Ashland Inc. by 137%, now owning 55,205 shares valued at approximately $3.27 million.
• Multiple institutional investors significantly boosted their holdings in Ashland, with some increases exceeding 2,700% during the first quarter.
• Analysts have set a new price target for Ashland shares, with an average target of $65.50, reflecting a general outlook of "Moderate Buy" from analysts.

Ieq Capital LLC lifted its position in Ashland Inc. (NYSE:ASH - Free Report) by 137.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,205 shares of the basic materials company's stock after purchasing an additional 31,916 shares during the quarter. Ieq Capital LLC owned about 0.12% of Ashland worth $3,273,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ASH. Farther Finance Advisors LLC boosted 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 acquiring an additional 684 shares during the last quarter. UMB Bank n.a. lifted its holdings in Ashland by 212.4% in the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 480 shares during the period. Allworth Financial LP boosted its position in Ashland by 63.9% in the 1st quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after purchasing an additional 325 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Ashland by 285.7% during the 1st quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after purchasing an additional 677 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Ashland by 1,745.8% during the 1st quarter. Signaturefd LLC now owns 1,329 shares of the basic materials company's stock valued at $79,000 after purchasing an additional 1,257 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Stock Performance

ASH traded up $0.06 during trading on Thursday, hitting $54.22. 156,366 shares of the stock were exchanged, compared to its average volume of 641,294. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $89.09. 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 market capitalization of $2.48 billion, a P/E ratio of -2.89, a PEG ratio of 4.02 and a beta of 0.52. The stock has a fifty day moving average price of $53.03 and a two-hundred day moving average price of $53.46.

Ashland (NYSE:ASH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The basic materials company reported $1.04 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 during the quarter, compared to analysts' expectations of $479.34 million. During the same period in the previous year, the company posted $1.49 earnings per share. Ashland's quarterly revenue was down 14.9% on a year-over-year basis. Ashland has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a dividend of $0.415 per share. The ex-dividend date is Friday, August 29th. This represents a $1.66 annualized dividend and a yield of 3.1%. Ashland's payout ratio is presently -8.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports 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. Wells Fargo & Company lifted 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. Argus lowered their price target on Ashland from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. BMO Capital Markets boosted their price objective on Ashland from $60.00 to $61.00 and gave the company a "market perform" rating in a research report on Tuesday. Finally, UBS Group decreased their target price on Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Ashland presently has an average rating of "Moderate Buy" and a consensus price target of $61.67.

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.