Ashland (NYSE:ASH) Hits New 52-Week Low – Should You Sell?

Ashland Inc. (NYSE:ASH) shares hit a new 52-week low on Tuesday . The stock traded as low as $60.60 and last traded at $60.85, with a volume of 895909 shares traded. The stock had previously closed at $63.49.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ASH. StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. UBS Group decreased their price target on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. BMO Capital Markets boosted their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.57.

Ashland Stock Down 4.2 %

The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $72.19 and its 200-day simple moving average is $81.28. The company has a market capitalization of $2.87 billion, a PE ratio of -92.20, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period last year, the company earned $0.45 EPS. As a group, equities research analysts anticipate that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.66%. Ashland’s payout ratio is -245.45%.

Insider Activity at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Guillermo Novo bought 31,294 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Equitable Trust Co. lifted its holdings in Ashland by 2.2% during the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 141 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Ashland by 5.5% during the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after purchasing an additional 163 shares during the last quarter. Creative Planning lifted its stake in Ashland by 3.8% in the 2nd quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock valued at $460,000 after buying an additional 176 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Ashland by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after buying an additional 182 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares in the last quarter. Hedge funds and other 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.