Ashland (NYSE:ASH) Price Target Lowered to $80.00 at Wells Fargo & Company

Ashland (NYSE:ASH) had its price objective lowered by Wells Fargo & Company from $90.00 to $80.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

A number of other research firms have also commented on ASH. UBS Group dropped their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets raised their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Ashland from a “hold” rating to a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.57.

Ashland Stock Down 0.2 %

Shares of NYSE:ASH opened at $63.61 on Thursday. The company has a 50 day moving average price of $72.57 and a two-hundred day moving average price of $81.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The company has a market capitalization of $3.00 billion, a PE ratio of -96.37, a PEG ratio of 1.03 and a beta of 0.87. Ashland has a 52 week low of $62.84 and a 52 week high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) 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 7.17%. During the same quarter last year, the business posted $0.45 earnings per share. Analysts forecast that Ashland will post 4.31 earnings per share for the current year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders 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 2.55%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s dividend payout ratio (DPR) is currently -245.45%.

Insider Activity

In related news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now directly owns 14,182 shares in the company, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Equitable Trust Co. raised its stake in shares of Ashland by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after purchasing an additional 141 shares in the last quarter. Raymond James Trust N.A. raised its position in Ashland by 5.5% during the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 163 shares in the last quarter. Creative Planning lifted its stake in Ashland by 3.8% in the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock valued at $460,000 after acquiring an additional 176 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Ashland by 5.4% in 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 during the period. Finally, Central Pacific Bank Trust Division increased its stake in shares of Ashland by 16.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,677 shares of the basic materials company’s stock worth $146,000 after purchasing an additional 237 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.