Wealth Enhancement Advisory Services LLC Increases Stake in Ashland Inc. $ASH

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its stake in Ashland Inc. by 377.7% during Q2, now owning 59,196 shares worth approximately $3.18 million.
• Several institutional investors adjusted their positions in Ashland, with notable increases from Integrated Wealth Concepts LLC and Allworth Financial LP, leading to 93.95% of the stock now owned by such entities.
• Analyst ratings for Ashland show mixed perspectives, with price targets ranging from $50 to $70 and a consensus rating of "Hold" based on recent reports.

Wealth Enhancement Advisory Services LLC grew its holdings in Ashland Inc. (NYSE:ASH - Free Report) by 377.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,196 shares of the basic materials company's stock after buying an additional 46,804 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.13% of Ashland worth $3,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Integrated Wealth Concepts LLC increased its position in shares of Ashland by 6.3% in the first 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. Smartleaf Asset Management LLC increased its position in shares of Ashland by 20.0% in the first quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company's stock valued at $107,000 after buying an additional 303 shares in the last quarter. Allworth Financial LP increased its position 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 valued at $49,000 after buying an additional 325 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ashland by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the basic materials company's stock valued at $441,000 after buying an additional 328 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Ashland by 33.5% in the first quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company's stock valued at $87,000 after buying an additional 368 shares in the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ASH has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Ashland from $73.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Morgan Stanley assumed 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. Argus lowered 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. Wells Fargo & Company lifted their price target on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.43.

Ashland Stock Performance

NYSE ASH opened at $48.75 on Friday. The stock's fifty day moving average is $52.77 and its two-hundred day moving average is $52.27. The firm has a market capitalization of $2.23 billion, a P/E ratio of -2.60, a price-to-earnings-growth ratio of 3.45 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.68. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $88.89.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). The company had revenue of $463.00 million for the quarter, compared to analyst estimates of $479.34 million. Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%.The business's quarterly revenue was down 14.9% on a year-over-year basis. 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 anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

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

Ashland 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.

Want to see what other hedge funds are holding ASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ashland Inc. (NYSE:ASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.