Atria Investments Inc Acquires 1,243 Shares of Ashland Inc. $ASH

Atria Investments Inc raised its holdings in shares of Ashland Inc. (NYSE:ASH) by 33.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,008 shares of the basic materials company’s stock after purchasing an additional 1,243 shares during the quarter. Atria Investments Inc’s holdings in Ashland were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Abound Wealth Management purchased a new position in Ashland during the 2nd quarter worth $40,000. Allworth Financial LP raised its holdings 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 acquiring an additional 325 shares in the last quarter. GAMMA Investing LLC lifted its stake in Ashland by 93.5% in the second quarter. GAMMA Investing LLC now owns 1,155 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 558 shares during the period. Blue Trust Inc. grew its holdings in Ashland by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,291 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 397 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Ashland by 2,440.4% during the 2nd quarter. IFP Advisors Inc now owns 1,321 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 1,269 shares during the period. 93.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ASH. Wells Fargo & Company cut their price objective on shares of Ashland from $52.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday. Argus cut their price target on Ashland from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. BMO Capital Markets upped their price objective on Ashland from $60.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 2nd. Zacks Research downgraded Ashland from a “hold” rating to a “strong sell” rating in a research report on Friday, October 24th. Finally, Evercore ISI reduced their target price on shares of Ashland from $62.00 to $53.00 and set an “in-line” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.38.

Ashland Stock Down 0.0%

Ashland stock opened at $50.05 on Thursday. Ashland Inc. has a fifty-two week low of $45.21 and a fifty-two week high of $80.94. The business’s 50-day simple moving average is $50.01 and its two-hundred day simple moving average is $51.23. 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 company has a market cap of $2.29 billion, a PE ratio of -2.67, a PEG ratio of 11.41 and a beta of 0.49.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Thursday, June 9th. The basic materials company reported $0.56 EPS for the quarter. The business had revenue of $509.00 million during 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 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.