Ashland Inc. (NYSE:ASH – Get Rating) – Equities research analysts at Seaport Res Ptn cut their Q1 2023 earnings per share (EPS) estimates for Ashland in a research note issued on Wednesday, January 18th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $1.29 per share for the quarter, down from their previous estimate of $1.31. The consensus estimate for Ashland’s current full-year earnings is $6.10 per share. Seaport Res Ptn also issued estimates for Ashland’s Q2 2023 earnings at $1.77 EPS, Q3 2023 earnings at $1.91 EPS, Q4 2023 earnings at $1.91 EPS and FY2023 earnings at $6.88 EPS.
Ashland (NYSE:ASH – Get Rating) last posted its earnings results on Monday, November 7th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The firm had revenue of $631.00 million for the quarter, compared to the consensus estimate of $636.10 million. Ashland had a return on equity of 10.17% and a net margin of 38.77%.
Ashland Trading Up 1.4 %
NYSE:ASH opened at $109.96 on Thursday. The company has a market cap of $5.95 billion, a P/E ratio of 6.78 and a beta of 0.99. The stock’s fifty day moving average price is $109.68 and its two-hundred day moving average price is $104.18. Ashland has a 1 year low of $83.29 and a 1 year high of $114.36. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.20 and a quick ratio of 2.06.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. ACG Wealth bought a new position in Ashland in the second quarter valued at $28,000. Hallmark Capital Management Inc. bought a new position in Ashland in the second quarter valued at $29,000. Almanack Investment Partners LLC. bought a new position in shares of Ashland during the third quarter valued at about $47,000. Allworth Financial LP grew its stake 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. Finally, National Bank of Canada FI grew its stake in shares of Ashland by 65.5% during the third quarter. National Bank of Canada FI now owns 543 shares of the basic materials company’s stock valued at $53,000 after buying an additional 215 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.
Ashland Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.34 dividend on an annualized basis and a yield of 1.22%. Ashland’s dividend payout ratio is presently 8.27%.
Ashland, Inc engages in the provision of architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care, Special Additives, and Intermediates. The company was founded in 1924 and is headquartered in Wilmington, DE.
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