Ashland Inc. (NYSE:ASH – Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $69.64 and last traded at $69.0770, with a volume of 75443 shares trading hands. The stock had previously closed at $68.51.
Wall Street Analysts Forecast Growth
ASH has been the subject of several research analyst reports. Weiss Ratings cut shares of Ashland from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. UBS Group boosted their price objective on shares of Ashland from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $60.00 price objective on shares of Ashland in a research report on Friday, May 1st. Wells Fargo & Company decreased their target price on Ashland from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Seaport Research Partners upgraded Ashland from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, May 6th. Six 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.78.
Check Out Our Latest Report on Ashland
Ashland Stock Performance
Ashland (NYSE:ASH – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). Ashland had a negative net margin of 39.03% and a positive return on equity of 8.06%. The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $485.61 million. During the same period in the prior year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts expect that Ashland Inc. will post 3.57 earnings per share for the current fiscal year.
Ashland Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Ashland’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 2.4%. Ashland’s payout ratio is -10.89%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its position in shares of Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $34,000 after buying an additional 249 shares during the period. Danske Bank A S acquired a new stake in shares of Ashland in the 3rd quarter valued at approximately $38,000. GAMMA Investing LLC raised its position in shares of Ashland by 38.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 277 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Ashland by 535.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,348 shares of the basic materials company’s stock worth $79,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Ashland by 398.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,460 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.
Ashland Company 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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