QRG Capital Management Inc. Raises Holdings in Ashland Inc. $ASH

QRG Capital Management Inc. raised its holdings in shares of Ashland Inc. (NYSE:ASH - Free Report) by 28.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,685 shares of the basic materials company's stock after purchasing an additional 5,653 shares during the period. QRG Capital Management Inc. owned approximately 0.06% of Ashland worth $1,291,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ashland by 10.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company's stock worth $235,000 after buying an additional 317 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Ashland in the 1st quarter worth $337,000. UMB Bank n.a. boosted its stake in shares of Ashland by 212.4% in the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after buying an additional 480 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 worth $41,000 after buying an additional 684 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Ashland in the 1st quarter worth $243,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Price Performance

NYSE:ASH opened at $48.59 on Thursday. 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 business's 50-day simple moving average is $52.25 and its two-hundred day simple moving average is $51.82. The stock has a market cap of $2.22 billion, a PE ratio of -2.59, a P/E/G ratio of 10.54 and a beta of 0.49. Ashland Inc. has a 52 week low of $45.21 and a 52 week high of $88.89.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly 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). The business had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. Ashland's revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Ashland has set its FY 2025 guidance at EPS. As a group, analysts forecast that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a dividend of $0.415 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.66 dividend on an annualized basis and a yield of 3.4%. Ashland's dividend payout ratio (DPR) is currently -8.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ASH. Argus dropped their price target on Ashland from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. Morgan Stanley began coverage on Ashland in a research note on Monday, September 8th. They issued an "equal weight" rating and a $60.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ashland in a report on Wednesday. UBS Group decreased their target price on Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Wells Fargo & Company raised their target price on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ashland currently has a consensus rating of "Hold" and a consensus price target of $60.57.

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.

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