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Market Chatter: Ashland Inc. Shares Tumble Nearly 6% on Sales Dip
By: MT Newswires
Chemical company Ashland Inc.'s ( ASH ) shares are down 5.8% to $69.40, but above a day low of $69.19, after the company reported that August sales in its specialty ingredients segment fell 9.7% from July according to a filing, the Wall Street Journal reported.
It was the third month in a row specialty ingredients sales dropped, though year-over-year sales are still higher. The segment was the biggest contributor to total sales in Ashland's fiscal third-quarter.
ASH shares have traded in a day range of $69.19 - $73.00, and a year range of $41.11 - $78.27.