Corient Private Wealth LP Takes $1.27 Million Position in Ashland Inc. $ASH

Corient Private Wealth LP bought a new position in shares of Ashland Inc. (NYSE:ASH) in the 2nd quarter, HoldingsChannel reports. The fund bought 19,358 shares of the basic materials company’s stock, valued at approximately $1,275,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System increased its stake in shares of Ashland by 1.8% during the first quarter. State of Michigan Retirement System now owns 11,039 shares of the basic materials company’s stock worth $614,000 after buying an additional 200 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of Ashland by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company’s stock worth $226,000 after buying an additional 225 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $34,000 after buying an additional 249 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Ashland by 11.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,457 shares of the basic materials company’s stock valued at $124,000 after buying an additional 252 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Ashland by 38.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 277 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Trending Headlines about Ashland

Here are the key news stories impacting Ashland this week:

• Neutral Sentiment: A renovation of Ashland’s Vaughn Public Library received national recognition. The story concerns a local library and has no apparent connection to Ashland Inc. Ashland’s Vaughn Public Library gets national recognition for renovation
• Neutral Sentiment: An Ashland nonprofit launched a vision endowment fund, a community fundraising initiative unrelated to the chemicals company. Ashland nonprofit launches vision endowment fund
• Neutral Sentiment: Honey Baked Ham plans to open in Ashland, representing a local retail development with no direct relevance to ASH. Honey Baked Ham coming to Ashland
• Neutral Sentiment: A high school football preview highlights Ashland-Greenwood’s rushing attack and offensive line ahead of a game with Syracuse. Ashland-Greenwood football preview
• Neutral Sentiment: A circus performance is scheduled for eight shows in Ashland, an entertainment event with no expected impact on Ashland Inc. Cirque du Luxe circus slated for eight shows
• Neutral Sentiment: Indiana University of Pennsylvania defeated Ashland in football, with coverage focused on the game’s score and highlights. IUP beats Ashland on the road
• Neutral Sentiment: Additional live coverage tracks the IUP-Ashland football game and does not involve Ashland Inc. IUP vs. Ashland football live updates
• Neutral Sentiment: A preview discusses Indiana University of Pennsylvania’s upcoming matchup with Ashland and its desire to avenge a prior loss. Hawks looking to avenge last season’s opener
• Neutral Sentiment: A veteran received a mortgage-free home in Ashland City, a charitable local event unrelated to ASH. Mortgage-free home given to veteran
• Neutral Sentiment: Ashland City officials are seeking public input on the future of a parks fee, a municipal policy matter with no apparent effect on Ashland Inc. Ashland City Council seeks public input on parks fee

Ashland Stock Down 0.3%

NYSE ASH opened at $72.96 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.05 and a quick ratio of 1.89. Ashland Inc. has a 12 month low of $46.29 and a 12 month high of $78.25. The company has a market capitalization of $3.34 billion, a P/E ratio of 64.00, a PEG ratio of 2.20 and a beta of 0.39. The company’s 50 day simple moving average is $70.59 and its 200 day simple moving average is $62.10.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 1st. Ashland’s payout ratio is currently 147.37%.

Analyst Upgrades and Downgrades

ASH has been the subject of a number of research reports. Weiss Ratings raised shares of Ashland from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Mizuho boosted their target price on shares of Ashland from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. BMO Capital Markets upped their target price on shares of Ashland from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. increased their price target on shares of Ashland from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ashland has an average rating of “Moderate Buy” and an average target price of $73.90.

Ashland Profile

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.