Ashland (NYSE:ASH) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Ashland (NYSE:ASH - Free Report) from a buy rating to a hold rating in a research note released on Friday.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upgraded Ashland from an underweight rating to a neutral rating and dropped their price target for the stock from $90.00 to $89.00 in a research note on Thursday, August 8th. BMO Capital Markets cut their price target on shares of Ashland from $105.00 to $92.00 and set a market perform rating on the stock in a report on Friday, August 9th. Wells Fargo & Company reduced their price target on shares of Ashland from $112.00 to $100.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group cut their target price on shares of Ashland from $116.00 to $107.00 and set a buy rating on the stock in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $103.50.

Ashland Trading Up 1.8 %

NYSE ASH traded up $1.53 during trading hours on Friday, hitting $86.70. 447,326 shares of the company's stock were exchanged, compared to its average volume of 412,399. The business's 50 day moving average is $90.02 and its 200-day moving average is $94.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.98. Ashland has a 12-month low of $70.82 and a 12-month high of $102.50. The firm has a market capitalization of $4.23 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Ashland had a net margin of 7.01% and a return on equity of 5.98%. The business had revenue of $544.00 million for the quarter, compared to analyst estimates of $577.08 million. During the same period in the prior year, the firm posted $1.23 EPS. The company's revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Ashland will post 4.55 EPS for the current fiscal year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a $0.405 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.62 annualized dividend and a dividend yield of 1.87%. Ashland's dividend payout ratio (DPR) is presently 42.97%.

Institutional Investors Weigh In On Ashland

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. GAMMA Investing LLC boosted its position in Ashland by 122.4% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company's stock valued at $27,000 after buying an additional 153 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company's stock worth $71,000 after acquiring an additional 739 shares in the last quarter. Innealta Capital LLC purchased a new position in Ashland in the second quarter valued at about $71,000. Neo Ivy Capital Management acquired a new stake in Ashland during the 4th quarter valued at approximately $67,000. Finally, Quadrant Capital Group LLC increased its holdings in Ashland by 143.7% during the 4th quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company's stock worth $68,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company's stock.

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.