Seaport Res Ptn Research Analysts Decrease Earnings Estimates for Ashland Inc. (NYSE:ASH)

Ashland Inc. (NYSE:ASH) – Research analysts at Seaport Res Ptn lowered their Q2 2024 EPS estimates for shares of Ashland in a report released on Thursday, November 2nd. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $1.46 per share for the quarter, down from their prior forecast of $1.61. The consensus estimate for Ashland’s current full-year earnings is $4.54 per share. Seaport Res Ptn also issued estimates for Ashland’s Q3 2024 earnings at $1.69 EPS, Q4 2024 earnings at $1.72 EPS, Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.97 EPS, Q3 2025 earnings at $2.08 EPS, Q4 2025 earnings at $1.96 EPS and FY2025 earnings at $7.37 EPS.

Several other analysts have also issued reports on ASH. UBS Group cut their target price on Ashland from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. Stifel Nicolaus cut their target price on Ashland from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. TheStreet cut Ashland from a “b-” rating to a “c+” rating in a research note on Friday, October 6th. JPMorgan Chase & Co. dropped their price objective on Ashland from $94.00 to $87.00 and set an “underweight” rating on the stock in a research report on Friday, July 28th. Finally, StockNews.com initiated coverage on Ashland in a research report on Thursday, October 5th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ashland currently has an average rating of “Hold” and a consensus target price of $101.63.

Ashland Trading Up 1.9 %

NYSE ASH opened at $77.60 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.53 and a quick ratio of 1.88. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.37 and a beta of 0.97. Ashland has a one year low of $70.82 and a one year high of $114.36. The business’s fifty day moving average is $80.34 and its 200-day moving average is $86.11.

Institutional Trading of Ashland

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASH. Fifth Third Bancorp lifted its holdings in Ashland by 15.8% in the 1st quarter. Fifth Third Bancorp now owns 727 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 99 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Ashland by 4.9% during the 1st quarter. Belpointe Asset Management LLC now owns 2,651 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 125 shares in the last quarter. Shelton Wealth Management LLC raised its holdings in shares of Ashland by 4.8% during the 1st quarter. Shelton Wealth Management LLC now owns 2,858 shares of the basic materials company’s stock worth $294,000 after acquiring an additional 130 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ashland by 0.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 16,858 shares of the basic materials company’s stock worth $1,465,000 after acquiring an additional 134 shares in the last quarter. Finally, Steph & Co. raised its holdings in shares of Ashland by 3.7% during the 2nd quarter. Steph & Co. now owns 3,847 shares of the basic materials company’s stock worth $334,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.

Insider Transactions at Ashland

In other news, CFO J Kevin Willis sold 7,866 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $86.54, for a total value of $680,723.64. Following the transaction, the chief financial officer now owns 11,583 shares of the company’s stock, valued at $1,002,392.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.20% of the company’s stock.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, August 31st. Ashland’s dividend payout ratio (DPR) is currently 35.16%.

About Ashland

Ashland Inc provides additives and specialty ingredients worldwide. 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.