Ashland Inc. (NYSE:ASH - Get Free Report)'s share price reached a new 52-week low during 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
ASH has been the topic of several recent analyst reports. Seaport Res Ptn cut Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Ashland from $81.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. UBS Group cut their price target on shares of Ashland from $95.00 to $93.00 and set a "buy" rating for the company in a research note 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. Finally, Wells Fargo & Company cut their target price on shares of Ashland from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $87.00.
Check Out Our Latest Report on ASH
Ashland Stock Performance
The company has a market cap of $2.69 billion, a P/E ratio of -86.40, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company's fifty day moving average is $65.38 and its 200 day moving average is $76.05. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51.
Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. 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 negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the prior year, the firm earned $0.45 EPS. As a group, equities analysts predict that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.
Ashland Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.405 dividend. 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 is -245.45%.
Insider Activity at Ashland
In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of Ashland stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ashland
A number of large investors have recently made changes to their positions in ASH. Prospera Private Wealth LLC purchased a new stake in Ashland in the third quarter worth $31,000. Versant Capital Management Inc bought a new position in Ashland in the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland in the 3rd quarter worth about $38,000. Assetmark Inc. boosted its stake in shares of Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Ashland during the fourth quarter valued at about $56,000. 93.95% of the stock is currently owned by institutional investors.
Ashland Company Profile
(
Get Free Report)
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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