BMO Capital Markets Lowers Ashland (NYSE:ASH) Price Target to $83.00

Ashland (NYSE:ASH) had its price target decreased by BMO Capital Markets from $92.00 to $83.00 in a research report report published on Tuesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and dropped their target price for the company from $90.00 to $89.00 in a report on Thursday, August 8th. UBS Group dropped their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.29.

Ashland Stock Performance

Shares of ASH opened at $76.42 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ashland has a 52-week low of $75.48 and a 52-week high of $102.50. The company has a 50-day simple moving average of $84.66 and a 200-day simple moving average of $90.60. The company has a market capitalization of $3.73 billion, a PE ratio of 22.81, a P/E/G ratio of 1.11 and a beta of 0.88.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The company had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. Equities research analysts predict that Ashland will post 4.82 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 29th. Ashland’s dividend payout ratio is currently 48.36%.

Insiders Place Their Bets

In related news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Institutional Trading of Ashland

Several institutional investors have recently added to or reduced their stakes in ASH. Equitable Trust Co. boosted its holdings in shares of Ashland by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock valued at $559,000 after buying an additional 141 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Ashland by 2.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,295 shares of the basic materials company’s stock valued at $681,000 after acquiring an additional 149 shares during the period. Raymond James Trust N.A. boosted its stake in Ashland by 5.5% in the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 163 shares during the period. Creative Planning grew its holdings in shares of Ashland by 3.8% during the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 176 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Ashland by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 182 shares during the period. Institutional investors own 93.95% of the company’s stock.

About Ashland

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.