Ashland (NYSE:ASH) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Ashland (NYSE:ASH) from a buy rating to a hold rating in a research note published on Thursday morning.

Several other research analysts have also weighed in on the stock. BMO Capital Markets upped their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company cut their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, UBS Group dropped their target price on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. 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 an average target price of $95.57.

Ashland Stock Performance

Shares of Ashland stock opened at $65.18 on Thursday. Ashland has a 12 month low of $60.60 and a 12 month high of $102.50. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The stock has a market cap of $3.08 billion, a PE ratio of -98.76, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86. The business has a fifty day simple moving average of $71.38 and a 200-day simple moving average of $80.84.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 earned $0.45 EPS. On average, sell-side analysts anticipate that Ashland will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a $0.405 dividend. 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 2.49%. Ashland’s dividend payout ratio is currently -245.45%.

Insider Transactions at Ashland

In related news, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares in the company, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Ashland in the third quarter worth about $31,000. UMB Bank n.a. grew its holdings in Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after buying an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Ashland in the 3rd quarter valued at approximately $38,000. Versant Capital Management Inc bought a new position in Ashland in the 4th quarter worth approximately $33,000. Finally, Assetmark Inc. lifted its holdings in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the last quarter. Institutional investors and hedge funds 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.