PEAK6 LLC Takes $2.67 Million Position in Ashland Inc. $ASH

Key Points

• PEAK6 LLC acquired 40,448 Ashland shares worth approximately $2.67 million in the second quarter, giving it a 0.09% stake. Institutional investors collectively own 93.95% of Ashland.
• Ashland shares opened at $72.97, near the analyst consensus price target of $73.90. Analysts maintain a “Moderate Buy” consensus, with seven Buy ratings and five Holds.
• Ashland declared a quarterly dividend of $0.42 per share, or $1.68 annualized, representing a 2.3% yield; its payout ratio is 147.37%.

PEAK6 LLC acquired a new position in Ashland Inc. (NYSE:ASH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 40,448 shares of the basic materials company's stock, valued at approximately $2,665,000. PEAK6 LLC owned 0.09% of Ashland as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of ASH. Quantbot Technologies LP purchased a new position in shares of Ashland in the second quarter valued at $3,551,000. Evolve Private Wealth LLC purchased a new position in shares of Ashland during the second quarter worth approximately $415,000. Ieq Capital LLC purchased a new position in Ashland in the 2nd quarter worth $3,646,000. Callan Family Office LLC bought a new stake in shares of Ashland in the 2nd quarter valued at about $268,000. Finally, Allworth Financial LP purchased a new stake in shares of Ashland during the second quarter valued at approximately $124,000. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Stock Up 0.4%

ASH stock opened at $72.97 on Monday. 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 capitalization of $3.34 billion, a price-to-earnings ratio of 64.01, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40. The business's 50 day moving average price is $68.88 and its two-hundred day moving average price is $61.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.3%. Ashland's dividend payout ratio is currently 147.37%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Mizuho lifted their target price on shares of Ashland from $75.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $85.00 price target on shares of Ashland in a report on Friday, July 31st. Weiss Ratings upgraded shares of Ashland from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Wolfe Research reaffirmed an "outperform" rating on shares of Ashland in a research note on Monday, July 27th. Finally, Seaport Research Partners upgraded shares of Ashland from a "neutral" rating to a "buy" rating and set a $75.00 target price for the company in a report on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.90.

Ashland 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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