Ashland (NYSE:ASH) Sets New 12-Month Low – Here’s Why

Ashland Inc. (NYSE:ASH) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $56.08 and last traded at $56.58, with a volume of 57915 shares. The stock had previously closed at $57.36.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. BMO Capital Markets increased their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. UBS Group reduced their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their price target on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ashland has a consensus rating of “Moderate Buy” and an average price target of $93.50.

Ashland Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -86.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The business has a 50-day simple moving average of $65.66 and a 200-day simple moving average of $76.19.

Ashland (NYSE:ASH) last issued its 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 business posted $0.45 EPS. On average, equities analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, February 28th. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Transactions at Ashland

In other news, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ASH. Pacer Advisors Inc. grew its stake in Ashland by 6,127.2% during the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock worth $76,574,000 after buying an additional 866,320 shares during the last quarter. Shapiro Capital Management LLC grew its stake in shares of Ashland by 172.5% in the 4th quarter. Shapiro Capital Management LLC now owns 670,785 shares of the basic materials company’s stock valued at $47,934,000 after purchasing an additional 424,595 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Ashland in the 4th quarter valued at approximately $28,943,000. Massachusetts Financial Services Co. MA grew its stake in shares of Ashland by 12.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after purchasing an additional 284,215 shares during the last quarter. Finally, Eminence Capital LP grew its stake in shares of Ashland by 8.0% in the 4th quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company’s stock valued at $204,409,000 after purchasing an additional 212,916 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Company Profile

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.