In a recent transaction disclosed in an SEC filing, Eric N. Boni, Vice President of Finance and Principal Accounting Officer at Ashland Inc . (NYSE:ASH), sold 451 shares of common stock on December 5, 2024. The shares were sold at an average price of $78.07, amounting to a total sale value of $35,209. The transaction comes as Ashland's stock trades near its 52-week low, with InvestingPro analysis indicating the company is currently undervalued. Following this transaction, Boni holds 14,182 shares directly. Additionally, he maintains an indirect ownership of 8,137 shares through a 401(k) plan. This transaction was carried out under a pre-established Rule 10b5-1 trading plan. Despite this insider sale, Ashland maintains strong fundamentals with a GOOD financial health score, consistent dividend payments for 54 consecutive years, and management's ongoing share buyback program. For deeper insights into Ashland's insider trading patterns and comprehensive analysis, investors can access the full Pro Research Report on InvestingPro.
In other recent news, Ashland Inc. has seen significant developments. The company's fourth quarter of fiscal year 2024 showed a modest 1% increase in sales to $522 million, a notable 68% surge in adjusted EBITDA to $124 million, and a substantial 207% rise in adjusted EPS to $1.26 per share. However, Deutsche Bank (ETR:DBKGn) and BMO Capital have both adjusted their price targets for Ashland's shares due to operational challenges and a weaker performance in the China coatings market. Additionally, Ashland announced the departure of Vice President, Finance and Principal Accounting Officer, Eric F. Boni. The company has yet to name a successor for the role. These are recent developments that reflect Ashland's strategic focus on improving its competitive positioning amidst economic uncertainties. As per the analysis from Deutsche Bank and BMO Capital, the company's future performance largely depends on the successful execution of its strategies and the revival of market demand.
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