Polar Asset Management Partners Inc. Acquires Shares of 24,366 Ashland Inc. $ASH

Key Points

• Polar Asset Management Partners bought 24,366 shares of Ashland in Q3 (about $1.17M), creating a new ~0.05% stake, while hedge funds and other institutions collectively own roughly 93.95% of the company.
• Ashland beat EPS for the quarter ($0.26 vs. $0.23) but revenue declined 4.7% year-over-year and the firm reported a negative net margin (-38.26%); shares recently traded down near $48.74.
• The company pays a quarterly dividend of $0.415 (annualized yield ~3.4%), and analysts hold a consensus Hold rating with a $67.67 price target amid mixed buy/hold/sell coverage.

Polar Asset Management Partners Inc. bought a new position in shares of Ashland Inc. (NYSE:ASH - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,366 shares of the basic materials company's stock, valued at approximately $1,167,000. Polar Asset Management Partners Inc. owned about 0.05% of Ashland at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Waddell & Associates LLC increased its holdings in shares of Ashland by 4.6% in the third quarter. Waddell & Associates LLC now owns 4,789 shares of the basic materials company's stock valued at $229,000 after purchasing an additional 209 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Ashland by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company's stock valued at $226,000 after buying an additional 225 shares in the last quarter. Private Trust Co. NA grew its holdings in Ashland by 20.9% in the 3rd quarter. Private Trust Co. NA now owns 1,330 shares of the basic materials company's stock valued at $64,000 after buying an additional 230 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of Ashland by 2.0% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 12,278 shares of the basic materials company's stock worth $605,000 after acquiring an additional 241 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Ashland by 59.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock worth $34,000 after acquiring an additional 249 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Trading Down 2.9%

Shares of ASH stock opened at $48.74 on Friday. Ashland Inc. has a 1-year low of $45.21 and a 1-year high of $65.64. The firm has a market cap of $2.23 billion, a PE ratio of -3.23, a price-to-earnings-growth ratio of 0.84 and a beta of 0.42. The company has a 50-day moving average of $60.01 and a two-hundred day moving average of $55.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.15 and a quick ratio of 1.61.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Ashland had a negative net margin of 38.26% and a positive return on equity of 7.58%. The business had revenue of $386.00 million for the quarter, compared to the consensus estimate of $401.42 million. During the same period in the previous year, the firm earned $0.28 EPS. The business's revenue was down 4.7% on a year-over-year basis. On average, analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were given a $0.415 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.66 dividend on an annualized basis and a yield of 3.4%. Ashland's payout ratio is presently -10.99%.

Trending Headlines about Ashland

Here are the key news stories impacting Ashland this week:

• Neutral Sentiment: Ashland management presented at the Gabelli Funds Annual Specialty Chemicals Symposium; the transcript is now public — useful for investors wanting management commentary but it did not contain major new announcements. Ashland Inc. (ASH) Presents at Gabelli Funds Annual Specialty Chemicals Symposium Transcript
• Neutral Sentiment: Local/community items referencing “Ashland” (sports, weather, arts) are unrelated to Ashland Inc.’s business and are unlikely to move the stock: local athlete feature. Athlete of the week: Ashland-Greenwood boys basketball’s Cal Kissinger
• Neutral Sentiment: Local council story about a cannabis club business license drew no action — a municipal matter without direct corporate impact. Ashland board takes no action on cannabis club business license
• Neutral Sentiment: College athletics/imports: signing announcements and local sports coverage are unrelated to Ashland Inc.’s fundamentals. Keystone football: All-Ohio linebacker Shane Ohl signs with Ashland
• Neutral Sentiment: Local weather and arts event coverage (weather forecasts, university theatre, symphony) do not affect corporate cash flow or guidance. Ashland County weather forecast Friday calls for breezy; a stray p.m. t-storm
• Neutral Sentiment: Crime report from Ashland, KY (drug seizure) is a local public-safety story with no direct link to Ashland Inc.’s operations. Man arrested in Ashland, Ky., after traffic stop turns into 'major drug seizure'

Wall Street Analysts Forecast Growth

ASH has been the topic of several recent research reports. UBS Group reissued a "buy" rating and set a $73.00 price target on shares of Ashland in a research report on Wednesday, February 4th. Wells Fargo & Company raised their price objective on shares of Ashland from $51.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Friday, December 19th. Argus lifted their target price on shares of Ashland from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ashland in a report on Wednesday, January 21st. Finally, Mizuho raised their price target on shares of Ashland from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, December 18th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $67.67.

About Ashland

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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