BMO Capital Markets Has Lowered Expectations for Ashland (NYSE:ASH) Stock Price

Ashland (NYSE:ASH) had its price objective lowered by BMO Capital Markets from $92.00 to $83.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the basic materials company’s stock.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lowered their target price on Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Ashland from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $89.00 in a research report on Thursday, August 8th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, UBS Group reduced their price objective on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ashland currently has an average rating of “Moderate Buy” and an average price target of $103.29.

Ashland Stock Performance

ASH opened at $79.05 on Tuesday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88. The stock’s 50 day moving average price is $84.35 and its two-hundred day moving average price is $90.41. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Ashland has a 12-month low of $75.04 and a 12-month high of $102.50.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The business had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. On average, equities analysts forecast that Ashland will post 4.82 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.05%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of the firm’s 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 transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ashland

Institutional investors have recently bought and sold shares of the business. Prospera Private Wealth LLC bought a new position in Ashland in the 3rd quarter valued at $31,000. UMB Bank n.a. raised its position in Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 251 shares during the last quarter. Assetmark Inc. increased its stake in shares of Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after buying an additional 464 shares during the period. GAMMA Investing LLC increased its stake in shares of Ashland by 133.8% in the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after buying an additional 372 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Ashland by 8,211.1% in the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after buying an additional 739 shares during the period. 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.