Ashland shares surge 10.03% intraday after Standard Investments acquires 5.7% stake, signaling activist potential.

Ashland Inc. surged 10.03% intraday after investment firm Standard Investments LLC disclosed a 5.7% stake in the company, signaling potential activist involvement. The stake, representing 2.625 million shares, was revealed via a SEC filing, with Standard Investments stating it views the position as an "attractive investment opportunity." The firm indicated plans to engage with Ashland’s management and board on strategic, governance, and capital allocation matters, while reserving the right to pursue further actions to enhance shareholder value. This development, coupled with Standard Investments’ openness to acquiring additional shares or proposing operational changes, drove immediate investor optimism. Other news, including unrelated local events and a Mizuho securities rating reaffirmation, did not significantly influence the stock’s movement.