NEW YORK (

TheStreet

) --

Ashland

(NYSE:

ASH

) hit a new 52-week high Friday as it is currently trading at $70.40, above its previous 52-week high of $70.30 with 680,933 shares traded as of 12:40 p.m. ET. Average volume has been 773,800 shares over the past 30 days.

Ashland has a market cap of $5.24 billion and is part of the

basic materials

sector and

chemicals

industry. Shares are up 18.4% year to date as of the close of trading on Thursday.

Ashland Inc. operates as a specialty chemicals company in the United States and internationally. It operates through four segments: Specialty Ingredients, Water Technologies, Performance Materials, and Consumer Markets.

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TheStreet Ratings rates Ashland as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Ashland Ratings Report

.

See all

52-week high stocks

or get investment ideas from our

investment research center

.

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