Ashland Inc. (NYSE:ASH) Sees Significant Growth in Short Interest

Ashland Inc. (NYSE:ASH - Get Free Report) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 1,060,000 shares, a growth of 6.0% from the November 15th total of 1,000,000 shares. Based on an average daily trading volume, of 444,100 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.3% of the shares of the stock are sold short.

Insider Activity

In related news, SVP Robin E. Lampkin sold 868 shares of the 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 sale, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now directly owns 14,182 shares of the company's stock, valued at $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Ashland

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new stake in shares of Ashland during the third quarter worth $31,000. UMB Bank n.a. boosted its position in Ashland by 193.1% in the third 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 position in Ashland in the 3rd quarter worth approximately $38,000. Assetmark Inc. raised its position in Ashland by 610.5% during the 3rd 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. Finally, Innealta Capital LLC acquired a new stake in Ashland during the 2nd quarter valued at approximately $71,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Stock Down 0.9 %

Shares of NYSE:ASH traded down $0.67 during trading hours on Tuesday, hitting $73.08. The company's stock had a trading volume of 443,563 shares, compared to its average volume of 422,204. The firm's fifty day moving average price is $80.93 and its 200 day moving average price is $87.50. Ashland has a 52 week low of $72.83 and a 52 week high of $102.50. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly 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). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company had revenue of $522.00 million during the quarter, compared to analysts' expectations of $524.07 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. The company's revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Ashland will post 4.52 EPS for the current year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a $0.405 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.22%. Ashland's payout ratio is 48.36%.

Wall Street Analyst Weigh In

ASH has been the subject of several recent analyst reports. StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. BMO Capital Markets boosted their price objective on Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their target price on Ashland from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.00.

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.

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