Ashland Inc. (NYSE:ASH – Get Rating) – Equities researchers at Seaport Res Ptn lowered their FY2022 earnings estimates for Ashland in a report issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $5.75 for the year, down from their prior forecast of $5.76. The consensus estimate for Ashland’s current full-year earnings is $5.66 per share. Seaport Res Ptn also issued estimates for Ashland’s Q4 2022 earnings at $1.48 EPS and FY2023 earnings at $6.41 EPS.
Ashland (NYSE:ASH – Get Rating) last announced its earnings results on Tuesday, July 26th. The basic materials company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.22. Ashland had a return on equity of 10.33% and a net margin of 38.83%. During the same quarter in the previous year, the company earned $1.22 earnings per share.
Ashland Trading Down 0.4 %
Shares of NYSE:ASH opened at $98.73 on Monday. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 6.21 and a beta of 1.01. Ashland has a 1-year low of $83.29 and a 1-year high of $112.91. The company has a 50 day moving average price of $102.67 and a 200 day moving average price of $101.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.20 and a current ratio of 3.30.
Institutional Trading of Ashland
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. Belpointe Asset Management LLC grew its stake in shares of Ashland by 4.8% in the second quarter. Belpointe Asset Management LLC now owns 2,531 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 117 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Ashland by 2.9% during the 2nd quarter. Cerity Partners LLC now owns 4,195 shares of the basic materials company’s stock worth $432,000 after purchasing an additional 120 shares during the period. Allworth Financial LP raised its position in shares of Ashland by 32.7% during the second quarter. Allworth Financial LP now owns 520 shares of the basic materials company’s stock valued at $54,000 after buying an additional 128 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Ashland by 0.6% in the fourth quarter. Eagle Asset Management Inc. now owns 22,434 shares of the basic materials company’s stock valued at $2,386,000 after buying an additional 131 shares during the period. Finally, Profund Advisors LLC grew its position in Ashland by 3.5% during the first quarter. Profund Advisors LLC now owns 4,045 shares of the basic materials company’s stock worth $398,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.
Ashland announced that its Board of Directors has approved a share buyback program on Wednesday, May 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Ashland Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.36%. Ashland’s payout ratio is presently 8.43%.
Ashland Company Profile
Ashland Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents 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.
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