Ashland Inc. VP Eric N. Boni Sells $35,209 Common Stock
In recent news, Eric N. Boni, Vice President of Finance and Principal Accounting Officer at Ashland Inc. (NYSE:ASH), made a transaction by selling 451 shares of common stock on December 5, 2024. The shares were sold at an average price of $78.07, totaling $35,209. This move happened as Ashland’s stock is currently trading near its 52-week low, indicating it might be undervalued according to InvestingPro analysis. After this transaction, Boni still holds 14,182 shares directly and has an indirect ownership of 8,137 shares through a 401(k) plan. It’s worth noting that this transaction was part of a pre-established Rule 10b5-1 trading plan. Despite this insider sale, Ashland’s fundamentals remain solid with a GOOD financial health score, uninterrupted dividend payments for 54 years, and an active share buyback program by the management. For more detailed insights into Ashland’s insider trading activities and in-depth analysis, interested investors can refer to the full Pro Research Report on InvestingPro.
On another note, Ashland Inc. has been making headlines recently with some significant updates. In the fourth quarter of fiscal year 2024, the company reported a 1% rise in sales to $522 million, a remarkable 68% increase in adjusted EBITDA to $124 million, and a substantial jump of 207% in adjusted EPS to $1.26 per share. However, Deutsche Bank (ETR:DBKGn) and BMO Capital have revised their price targets for Ashland’s shares due to operational hurdles and a weaker performance in the China coatings market. In addition, Ashland has announced the departure of Vice President, Finance, and Principal Accounting Officer, Eric F. Boni, without naming a successor yet. These recent events reflect Ashland’s strategic emphasis on enhancing its competitive stance amid economic uncertainties. According to the analysis from Deutsche Bank and BMO Capital, the company’s future success largely hinges on effectively executing its strategies and a rebound in market demand.
