First Financial Bank Trust Division Lowers Holdings in Ashland Inc. $ASH

First Financial Bank Trust Division trimmed its position in Ashland Inc. (NYSE:ASH) by 28.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,237 shares of the basic materials company’s stock after selling 2,478 shares during the period. First Financial Bank Trust Division’s holdings in Ashland were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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. Smartleaf Asset Management LLC raised its stake in shares of Ashland by 20.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company’s stock worth $107,000 after buying an additional 303 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ashland by 10.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after buying an additional 317 shares during the last quarter. Allworth Financial LP raised its stake in shares of Ashland by 63.9% during the 1st quarter. Allworth Financial LP now owns 834 shares of the basic materials company’s stock worth $49,000 after buying an additional 325 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Ashland by 4.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the basic materials company’s stock worth $441,000 after buying an additional 328 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Down 3.3%

ASH opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.82, a price-to-earnings-growth ratio of 3.94 and a beta of 0.52. The business has a 50-day moving average of $53.28 and a two-hundred day moving average of $52.90. Ashland Inc. has a 12 month low of $45.21 and a 12 month high of $89.09.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.11). The business had revenue of $463.00 million during the quarter, compared to analysts’ expectations of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 EPS. Ashland has set its FY 2025 guidance at EPS. On average, research analysts expect that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen raised Ashland from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Wells Fargo & Company boosted their target price on shares of Ashland from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. UBS Group cut 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. Argus cut 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. Finally, 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. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Ashland has an average rating of “Hold” and a consensus price target of $61.43.

Ashland Company 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.