Ashland Inc. (NYSE:ASH - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $54.86 and last traded at $55.94, with a volume of 437276 shares changing hands. The stock had previously closed at $56.33.
Wall Street Analysts Forecast Growth
ASH has been the subject of a number of research analyst reports. StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Seaport Res Ptn downgraded Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. BMO Capital Markets increased their price target on Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on Ashland from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. decreased their price target on Ashland from $81.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $87.00.
Read Our Latest Analysis on Ashland
Ashland Stock Up 0.7 %
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 50-day simple moving average of $63.70 and a 200-day simple moving average of $74.59. The firm has a market capitalization of $2.66 billion, a PE ratio of -85.27, a P/E/G ratio of 1.14 and a beta of 0.89.
Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 previous year, the firm earned $0.45 earnings per share. Analysts forecast that Ashland Inc. will post 4.27 EPS for the current year.
Ashland Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, February 28th. Ashland's dividend payout ratio (DPR) is presently -245.45%.
Insider Activity
In related news, CEO Guillermo Novo purchased 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ashland
Several large investors have recently added to or reduced their stakes in ASH. Prospera Private Wealth LLC bought a new stake in Ashland during the third quarter valued at $31,000. Versant Capital Management Inc bought a new stake in Ashland during the fourth quarter valued at $33,000. Wilmington Savings Fund Society FSB bought a new stake in Ashland during the third quarter valued at $38,000. Atala Financial Inc bought a new stake in Ashland during the fourth quarter valued at $56,000. Finally, Covestor Ltd boosted its stake in Ashland by 80.6% during the fourth quarter. Covestor Ltd now owns 959 shares of the basic materials company's stock valued at $69,000 after buying an additional 428 shares during the period. Institutional investors own 93.95% of the company's stock.
About Ashland
(
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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