Ashland (NYSE:ASH) Sets New 1-Year Low – Here’s What Happened

Shares of Ashland Inc. (NYSE:ASH) reached a new 52-week low during mid-day trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. UBS Group lowered their price target on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Four investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $93.50.

Ashland Price Performance

The firm has a market capitalization of $2.66 billion, a PE ratio of -85.40, a P/E/G ratio of 1.14 and a beta of 0.89. The firm’s fifty day moving average price is $66.23 and its 200 day moving average price is $76.54. 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) last released its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share 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 previous year, the business posted $0.45 EPS. As a group, equities analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Buying and Selling at Ashland

In related news, CEO Guillermo Novo acquired 31,294 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now owns 31,294 shares of the company’s stock, valued at $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ashland

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Ashland by 12.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,975 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 322 shares in the last quarter. Equitable Trust Co. raised its stake in shares of Ashland by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 141 shares in the last quarter. Assetmark Inc. lifted its holdings in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Ashland by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock valued at $307,000 after acquiring an additional 182 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Ashland by 18.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 22,388 shares of the basic materials company’s stock worth $1,947,000 after purchasing an additional 3,472 shares during the period. 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.