KLP Kapitalforvaltning AS Raises Holdings in Ashland Inc. $ASH

KLP Kapitalforvaltning AS increased its position in shares of Ashland Inc. (NYSE:ASH) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,100 shares of the basic materials company’s stock after acquiring an additional 1,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Ashland were worth $810,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ASH. Farther Finance Advisors LLC raised 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 valued at $41,000 after acquiring an additional 684 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Ashland by 276.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,392 shares of the basic materials company’s stock valued at $735,000 after buying an additional 9,100 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Ashland by 46.2% during the 1st quarter. QRG Capital Management Inc. now owns 20,032 shares of the basic materials company’s stock valued at $1,188,000 after buying an additional 6,332 shares during the last quarter. Institute for Wealth Management LLC. bought a new stake in shares of Ashland during the 1st quarter valued at about $369,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ashland during the 1st quarter valued at about $273,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 0.1%

NYSE ASH opened at $48.99 on Friday. Ashland Inc. has a twelve month low of $45.21 and a twelve month high of $88.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.68. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -2.62, a PEG ratio of 11.14 and a beta of 0.49. The firm’s 50 day moving average price is $51.89 and its two-hundred day moving average price is $51.41.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. The firm had revenue of $509.00 million for the quarter. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. Ashland has set its FY 2022 guidance at EPS. Equities analysts anticipate that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

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 dividend of $0.415 per share. The ex-dividend date was Friday, August 29th. This represents a $1.66 annualized dividend and a dividend yield of 3.4%. Ashland’s dividend payout ratio is -8.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Ashland from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley assumed coverage on shares of Ashland in a research note on Monday, September 8th. They set an “equal weight” rating and a $60.00 target price for the company. BMO Capital Markets boosted their target price on shares of Ashland from $60.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, September 2nd. UBS Group reduced their target price on shares of Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, Argus reduced their target price 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. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.43.

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.