Ashland (NYSE:ASH) Hits New 52-Week Low After Earnings Miss

Ashland Inc. (NYSE:ASH - Get Free Report) shares hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $68.01 and last traded at $68.43, with a volume of 312618 shares changing hands. The stock had previously closed at $71.16.

The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.51). Ashland had a net margin of 7.95% and a return on equity of 7.43%. During the same period in the previous year, the company earned $0.45 EPS.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, February 28th. Ashland's payout ratio is currently -245.45%.

Analysts Set New Price Targets

ASH has been the topic of a number of recent analyst reports. UBS Group reduced their target price on Ashland from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped 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. StockNews.com raised shares of Ashland from a "hold" rating to a "buy" rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, BMO Capital Markets increased their target price on shares of Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.57.

Insider Activity

In other 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 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. The trade was a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eric N. Boni sold 451 shares of the company's stock in a transaction 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 completion of the sale, the vice president now owns 14,182 shares of the company's stock, valued at approximately $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. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted 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 acquiring an additional 866,320 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Ashland by 12.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company's stock worth $226,000,000 after buying an additional 284,215 shares in the last quarter. SG Americas Securities LLC boosted its position in Ashland by 2,060.5% in the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company's stock valued at $12,802,000 after buying an additional 170,859 shares during the period. Assenagon Asset Management S.A. increased its holdings in Ashland by 703.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company's stock worth $13,206,000 after purchasing an additional 161,812 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Ashland by 6.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company's stock valued at $151,131,000 after purchasing an additional 103,517 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Stock Down 0.6 %

The firm has a 50 day moving average price of $72.88 and a 200-day moving average price of $81.96. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.00 billion, a PE ratio of 19.04, a PEG ratio of 1.14 and a beta of 0.87.

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.