Ashland Inc. $ASH Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in Ashland Inc. (NYSE:ASH) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,863 shares of the basic materials company’s stock after purchasing an additional 4,619 shares during the quarter. Franklin Resources Inc.’s holdings in Ashland were worth $6,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ASH. Abound Wealth Management acquired a new position in Ashland in the 2nd quarter valued at approximately $40,000. GAMMA Investing LLC grew its holdings in shares of Ashland by 93.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,155 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 558 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Ashland by 44.4% in the second 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 during the last quarter. IFP Advisors Inc raised its holdings in shares of Ashland by 2,440.4% during the second quarter. IFP Advisors Inc now owns 1,321 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 1,269 shares in the last quarter. Finally, Allworth Financial LP boosted its position in Ashland by 67.1% during the second quarter. Allworth Financial LP now owns 1,394 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 560 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Trading Up 0.7%

Shares of ASH stock opened at $52.90 on Monday. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $80.66. The company has a quick ratio of 1.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $49.58 and its two-hundred day moving average is $51.23. The company has a market cap of $2.42 billion, a PE ratio of -2.82, a price-to-earnings-growth ratio of 11.41 and a beta of 0.49.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Thursday, June 9th. The basic materials company reported $0.56 earnings per share 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 predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.415 dividend. This represents a $1.66 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, December 1st. Ashland’s dividend payout ratio (DPR) is currently -9.05%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley began coverage on Ashland in a research report on Monday, September 8th. They issued an “equal weight” rating and a $60.00 target price on the stock. Zacks Research downgraded Ashland from a “hold” rating to a “strong sell” rating in a report on Friday, October 24th. UBS Group cut their price objective on shares of Ashland from $73.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Mizuho boosted their target price on shares of Ashland from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Finally, Argus cut their price target on shares of Ashland from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.13.

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.