NFJ Investment Group LLC Buys Shares of 79,318 Ashland Inc. $ASH

Key Points

• NFJ Investment Group LLC invested approximately $4.70 million in Ashland Inc. by purchasing 79,318 shares, representing about 0.17% of the company's total shares.
• Ashland reported earnings per share (EPS) of $1.04 for the latest quarter, missing analysts' estimates, alongside a 14.9% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.415 per share, with a yield of 3.0%, and plans to pay it out on September 15th to shareholders of record on September 1st.

NFJ Investment Group LLC purchased a new position in Ashland Inc. (NYSE:ASH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 79,318 shares of the basic materials company's stock, valued at approximately $4,703,000. NFJ Investment Group LLC owned 0.17% of Ashland at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Ashland by 212.4% during the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after purchasing an additional 480 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Ashland by 2,736.0% in the first quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after buying an additional 684 shares during the period. Allworth Financial LP increased its holdings in shares of Ashland by 63.9% in the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after buying an additional 325 shares during the period. Parallel Advisors LLC increased its holdings in shares of Ashland by 285.7% in the first quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after buying an additional 677 shares during the period. Finally, Signaturefd LLC increased its holdings in 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 during the period. 93.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ASH has been the topic of a number of research analyst reports. Morgan Stanley started coverage on Ashland in a report on Monday. They set an "equal weight" rating and a $60.00 price target on the stock. BMO Capital Markets lifted 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, September 2nd. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Argus cut their price objective on Ashland from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. Finally, Wells Fargo & Company lifted their price objective on Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $61.43.

Ashland Price Performance

ASH stock traded up $0.84 during trading on Thursday, reaching $53.88. The company's stock had a trading volume of 117,908 shares, compared to its average volume of 635,102. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $89.09. The company's fifty day moving average is $53.27 and its 200-day moving average is $53.05. 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 company has a market capitalization of $2.46 billion, a P/E ratio of -2.88, a price-to-earnings-growth ratio of 3.84 and a beta of 0.52.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.11). The company had revenue of $463.00 million during 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%.Ashland's quarterly revenue was down 14.9% compared to the same quarter last year. During the same period last year, the firm posted $1.49 EPS. Ashland has set its FY 2025 guidance at EPS. On average, research analysts expect 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 will be paid on Monday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.1%. Ashland's dividend payout ratio (DPR) is presently -8.86%.

Ashland Company 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.