Jupiter Topco LLC Takes $1.21 Million Position in Ashland Inc. $ASH

Jupiter Topco LLC acquired a new stake in shares of Ashland Inc. (NYSE:ASH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 18,286 shares of the basic materials company’s stock, valued at approximately $1,206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ASH. BlackRock Inc. bought a new position in Ashland in the second quarter valued at about $376,376,000. AQR Capital Management LLC grew its holdings in shares of Ashland by 284.3% during the second quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company’s stock worth $172,318,000 after purchasing an additional 2,555,585 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Ashland by 648,370.7% during the second quarter. Ancora Advisors LLC now owns 1,945,412 shares of the basic materials company’s stock worth $128,183,000 after purchasing an additional 1,945,112 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Ashland by 13,240.8% in the fourth quarter. Franklin Resources Inc. now owns 1,736,173 shares of the basic materials company’s stock valued at $101,861,000 after buying an additional 1,723,159 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in shares of Ashland by 775.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,900,000 shares of the basic materials company’s stock valued at $111,473,000 after buying an additional 1,682,994 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Stock Performance

Shares of Ashland stock opened at $72.96 on Friday. The business has a 50-day moving average price of $70.59 and a two-hundred day moving average price of $62.10. Ashland Inc. has a 1-year low of $46.29 and a 1-year high of $78.25. The company has a current ratio of 3.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.73. The company has a market cap of $3.34 billion, a P/E ratio of 64.00, a PEG ratio of 2.19 and a beta of 0.39.

Ashland Dividend Announcement

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

Ashland News Roundup

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

Analyst Ratings Changes

Several research firms recently commented on ASH. Weiss Ratings upgraded shares of Ashland from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. UBS Group raised their price target on shares of Ashland from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Ashland from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Wells Fargo & Company increased their price objective on Ashland from $50.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $85.00 target price on shares of Ashland in a research report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.90.

Ashland Company 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.