Short Interest in Ashland Inc. (NYSE:ASH) Grows By 19.1%

Ashland Inc. (NYSE:ASH) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 5,023,447 shares, an increase of 19.1% from the February 12th total of 4,217,547 shares. Based on an average daily volume of 807,071 shares, the short-interest ratio is currently 6.2 days. Approximately 11.1% of the shares of the stock are sold short. Approximately 11.1% of the shares of the stock are sold short. Based on an average daily volume of 807,071 shares, the short-interest ratio is currently 6.2 days.

Ashland Stock Up 1.5%

Shares of ASH stock traded up $0.77 during mid-day trading on Tuesday, hitting $51.43. The company’s stock had a trading volume of 784,731 shares, compared to its average volume of 703,985. The business has a 50-day moving average price of $60.66 and a 200 day moving average price of $55.68. Ashland has a 52-week low of $45.21 and a 52-week high of $65.64. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -3.40, a PEG ratio of 0.85 and a beta of 0.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.61 and a current ratio of 3.15.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Monday, February 2nd. The basic materials company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $386.00 million for the quarter, compared to the consensus estimate of $401.42 million. Ashland had a negative net margin of 38.26% and a positive return on equity of 7.58%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Research analysts predict that Ashland will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were issued a $0.415 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.66 dividend on an annualized basis and a yield of 3.2%. Ashland’s dividend payout ratio is presently -10.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ASH shares. Morgan Stanley set a $63.00 target price on Ashland in a research report on Monday, February 9th. Mizuho increased their price objective on shares of Ashland from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Argus lifted their price target on Ashland from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, January 12th. UBS Group restated a “buy” rating and issued a $73.00 price target on shares of Ashland in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised Ashland from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.67.

Institutional Investors Weigh In On Ashland

A number of large investors have recently modified their holdings of ASH. Royal Bank of Canada lifted its position in Ashland by 18.7% during the 1st quarter. Royal Bank of Canada now owns 46,306 shares of the basic materials company’s stock worth $2,747,000 after acquiring an additional 7,309 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Ashland by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company’s stock valued at $226,000 after buying an additional 225 shares during the period. Millennium Management LLC increased its stake in shares of Ashland by 49.4% during the 1st quarter. Millennium Management LLC now owns 284,454 shares of the basic materials company’s stock valued at $16,865,000 after acquiring an additional 94,067 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ashland by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 387,132 shares of the basic materials company’s stock valued at $22,953,000 after buying an additional 6,245 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ashland by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 152,830 shares of the basic materials company’s stock valued at $9,061,000 after buying an additional 13,989 shares during the period. 93.95% of the stock is owned by hedge funds and other institutional investors.

More Ashland News

Here are the key news stories impacting Ashland this week:

• Positive Sentiment: The company’s CFO will speak on the current market environment at the Gabelli Funds’ 17th Annual Specialty Chemicals Symposium — investor attention to management commentary at that event could provide forward-looking color on demand, margins and capital allocation, which may support the stock if commentary is constructive. Ashland CFO to discuss current market environment at the Gabelli Funds’ 17th Annual Specialty Chemicals Symposium
• Neutral Sentiment: Analysts maintain a consensus “Hold” on ASH — that suggests the street is cautious and not currently bullish, but not bearish either; keeps upside dependent on upcoming fundamental catalysts (earnings cadence, margin progress). Ashland Inc. (NYSE:ASH) Given Consensus Recommendation of “Hold” by Analysts
• Neutral Sentiment: A local news report about a suspicious death in the city of Ashland is unrelated to Ashland Inc.’s business operations or financials; unlikely to affect the stock beyond short-term headlines. Ashland body identified, death deemed ‘suspicious’
• Neutral Sentiment: Several local community and high-school sports items referencing “Ashland” (mascot bracket, player honors, wrestling results) are civic news and do not pertain to Ashland Inc.’s corporate performance; they are unlikely to move the stock. Ashland Clockers compete in Round 1 of national high school mascot bracket Vote Orofino Maniacs or Ashland Clockers Ashland-Greenwood’s Tonjes, Kissinger named First Team All-Trailblazer Conference Ashland’s Guardian Miller exceeds expectations as state runner-up
• Neutral Sentiment: A local traffic closure notice in Ashland does not impact Ashland Inc.’s fundamentals. Traffic alert | Closure on 12th Street in Ashland

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.