Ashland (NYSE:ASH) Cut to Hold at StockNews.com

StockNews.com cut shares of Ashland (NYSE:ASH) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the company. 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. UBS Group decreased their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Stock Up 0.9 %

Shares of NYSE ASH opened at $74.78 on Thursday. Ashland has a 12 month low of $72.83 and a 12 month high of $102.50. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.15 and a beta of 0.86. The stock has a 50-day moving average price of $81.36 and a two-hundred day moving average price of $87.95.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The firm had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. As a group, analysts forecast that Ashland will post 4.52 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.17%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Activity at Ashland

In other news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at $224,585.70. This represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ashland

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. CWM LLC boosted its stake in shares of Ashland by 311.5% during the second quarter. CWM LLC now owns 2,251 shares of the basic materials company’s stock valued at $213,000 after purchasing an additional 1,704 shares during the period. SG Americas Securities LLC purchased a new position in shares of Ashland in the 2nd quarter valued at approximately $713,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ashland during the second quarter worth $251,000. Assenagon Asset Management S.A. acquired a new stake in Ashland during the 2nd quarter worth about $3,423,000. Finally, Raymond James & Associates boosted its position in Ashland by 28.7% in the second quarter. Raymond James & Associates now owns 99,777 shares of the basic materials company’s stock valued at $9,428,000 after buying an additional 22,280 shares during the last quarter. 93.95% of the stock is owned by institutional investors.

Ashland Company Profile

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.