Jupiter Topco LLC Takes Position in Ashland Inc. $ASH

Key Points

• Jupiter Topco LLC purchased 18,286 Ashland shares during the second quarter, valued at approximately $1.2 million. Institutional investors collectively own 93.95% of the company.
• Ashland shares opened at $72.96, near their 12-month high of $78.25, while analysts maintained a generally positive outlook with 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 an annualized $1.68 payout and a 2.3% yield; however, its payout ratio stands at 147.37%.

Jupiter Topco LLC purchased a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,286 shares of the basic materials company's stock, valued at approximately $1,206,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in shares of Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock worth $34,000 after purchasing an additional 249 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Ashland in the second quarter valued at approximately $35,000. Danske Bank A S acquired a new stake in shares of Ashland in the third quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake 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 valued at $66,000 after buying an additional 277 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Ashland by 398.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,460 shares of the basic materials company's stock valued at $70,000 after buying an additional 1,167 shares during the period. Institutional investors and hedge funds own 93.95% of the company's stock.

Ashland Stock Performance

Ashland stock opened at $72.96 on Friday. The company has a quick ratio of 1.89, a current ratio of 3.05 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3.34 billion, a PE ratio of 64.00, a P/E/G ratio of 2.19 and a beta of 0.39. Ashland Inc. has a 12-month low of $46.29 and a 12-month high of $78.25. The business's 50-day moving average price is $70.59 and its two-hundred day moving average price is $62.10.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. Ashland's payout ratio is 147.37%.

Analyst Ratings Changes

A number of equities analysts have commented on ASH shares. JPMorgan Chase & Co. raised their price objective on Ashland from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. UBS Group increased their target price on Ashland from $75.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Morgan Stanley raised their price target on Ashland from $58.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Weiss Ratings raised Ashland from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $85.00 price objective on shares of Ashland in a research report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $73.90.

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 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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