Cerro Pacific Wealth Advisors LLC Purchases 1,148 Shares of Ashland Inc. $ASH

Cerro Pacific Wealth Advisors LLC raised its position in shares of Ashland Inc. (NYSE:ASH) by 24.6% in the second quarter, HoldingsChannel reports. The firm owned 5,819 shares of the basic materials company’s stock after acquiring an additional 1,148 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Ashland were worth $293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in 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 purchasing an additional 9,100 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Ashland during the 1st quarter valued at $273,000. Private Trust Co. NA raised its position in Ashland by 33.5% during the 1st quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 368 shares in the last quarter. Amundi raised its position in Ashland by 417,809.1% during the 1st quarter. Amundi now owns 45,970 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 45,959 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in Ashland by 13.3% during the 1st quarter. Vontobel Holding Ltd. now owns 4,012 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 471 shares in the last quarter. 93.95% of the stock is owned by institutional investors.

Ashland Trading Down 2.0%

Shares of NYSE:ASH opened at $47.53 on Friday. The business’s 50-day moving average is $52.12 and its 200 day moving average is $51.64. Ashland Inc. has a 1 year low of $45.21 and a 1 year high of $88.89. The firm has a market capitalization of $2.17 billion, a P/E ratio of -2.54, a P/E/G ratio of 10.80 and a beta of 0.49. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33.

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

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a $0.415 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.66 dividend on an annualized basis and a yield of 3.5%. Ashland’s dividend payout ratio is currently -8.86%.

Wall Street Analyst Weigh In

ASH has been the subject of several recent research reports. Morgan Stanley initiated coverage on Ashland in a research report on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price target for the company. Mizuho reduced their price target on Ashland from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Wall Street Zen lowered Ashland from a “hold” rating to a “sell” rating in a research report on Sunday. UBS Group reduced their price target on Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.57.

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.