Ashland Inc. (NYSE:ASH) CEO Guillermo Novo Buys 31,294 Shares

Ashland Inc. (NYSE:ASH) CEO Guillermo Novo bought 31,294 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the purchase, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ashland Stock Performance

NYSE ASH opened at $60.85 on Tuesday. The company has a market capitalization of $2.87 billion, a P/E ratio of -92.20, a PEG ratio of 1.11 and a beta of 0.87. The business has a 50 day moving average price of $72.19 and a 200 day moving average price of $81.28. Ashland Inc. has a 1-year low of $60.60 and a 1-year high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last announced its 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 quarter last year, the company posted $0.45 earnings per share. Sell-side analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

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 given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Institutional Trading of Ashland

A number of institutional investors and hedge funds have recently bought and sold shares of ASH. Prospera Private Wealth LLC purchased a new position in Ashland in the 3rd quarter worth approximately $31,000. UMB Bank n.a. increased its position in Ashland by 193.1% in the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares during the period. Versant Capital Management Inc acquired a new position in shares of Ashland during the fourth quarter valued at $33,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ashland during the third quarter valued at $38,000. Finally, Assetmark Inc. grew its holdings in Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 464 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ASH shares. JPMorgan Chase & Co. cut their target price on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com raised Ashland from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. UBS Group cut their target price on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company cut their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, BMO Capital Markets increased their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.57.

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.