Ashland (NYSE:ASH) Sets New 12-Month Low Following Analyst Downgrade

Ashland Inc. (NYSE:ASH - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $69.00 to $58.00. Wells Fargo & Company currently has an overweight rating on the stock. Ashland traded as low as $45.21 and last traded at $46.14, with a volume of 183429 shares trading hands. The stock had previously closed at $46.53.

ASH has been the subject of several other research reports. UBS Group cut their price target on Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their target price on shares of Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Ashland from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $68.00 to $71.00 in a report on Wednesday, March 26th. Finally, Seaport Res Ptn cut Ashland from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.20.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.02% of the company's stock.

Institutional Trading of Ashland

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Ashland in the fourth quarter valued at $33,000. Wilmington Savings Fund Society FSB acquired a new stake in Ashland during the third quarter worth approximately $38,000. Farther Finance Advisors LLC lifted its position in shares of Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after buying an additional 684 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Ashland by 212.4% in the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock valued at $42,000 after buying an additional 480 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Ashland by 285.7% in the 1st quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock valued at $54,000 after buying an additional 677 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company's stock.

Ashland Price Performance

The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -76.76, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. 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 company's 50 day moving average is $58.61 and its 200 day moving average is $70.71.

Ashland (NYSE:ASH - Get Free Report) last posted its earnings results 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 firm posted $0.45 EPS. Research analysts anticipate that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.20%. Ashland's dividend payout ratio (DPR) is -245.45%.

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.