Ashland Inc. $ASH Stock Holdings Decreased by Baird Financial Group Inc.

Baird Financial Group Inc. cut its stake in shares of Ashland Inc. (NYSE:ASH) by 3.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,468 shares of the basic materials company’s stock after selling 491 shares during the period. Baird Financial Group Inc.’s holdings in Ashland were worth $858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in Ashland by 20.0% during the first quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 303 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Ashland by 10.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 317 shares in the last quarter. Allworth Financial LP grew its position in Ashland by 63.9% in the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 325 shares in the last quarter. PNC Financial Services Group Inc. grew its position in 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 worth $441,000 after acquiring an additional 328 shares in the last quarter. Finally, Private Trust Co. NA grew its position in Ashland by 33.5% in the first quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company’s stock worth $87,000 after acquiring an additional 368 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Price Performance

Shares of Ashland stock opened at $53.28 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $89.09. The firm has a fifty day moving average price of $53.28 and a two-hundred day moving average price of $53.05. The company has a market cap of $2.44 billion, a PE ratio of -2.84, a price-to-earnings-growth ratio of 3.91 and a beta of 0.52.

Ashland (NYSE:ASH) last issued its quarterly earnings results 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). Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The company had revenue of $463.00 million during the quarter, compared to the consensus estimate of $479.34 million. During the same period last year, the company earned $1.49 earnings per share. Ashland’s revenue for the quarter was down 14.9% on a year-over-year basis. Ashland has set its FY 2025 guidance at EPS. Analysts expect that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.415 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.66 annualized dividend and a dividend yield of 3.1%. Ashland’s dividend payout ratio is presently -8.86%.

Wall Street Analyst Weigh In

Several analysts have commented on ASH shares. Wall Street Zen raised shares of Ashland from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. BMO Capital Markets boosted their price objective on shares of Ashland from $60.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 2nd. Argus reduced their price objective on shares of Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 26th. Morgan Stanley started coverage on shares of Ashland in a research note on Monday. They issued an “equal weight” rating and a $60.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Ashland from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.43.

About Ashland

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.