Ashland (NYSE:ASH) Hits 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 Wednesday . The stock traded as low as $54.86 and last traded at $55.94, with a volume of 437276 shares changing hands. The stock had previously closed at $56.33.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets boosted their price objective 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, Wells Fargo & Company decreased their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $87.00.

Ashland Stock Performance

The firm has a market capitalization of $2.66 billion, a PE ratio of -85.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $63.95 and its two-hundred day simple moving average is $74.91.

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 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 quarter in the previous year, the business earned $0.45 EPS. Research analysts expect that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

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

Insider Activity

In other Ashland news, CEO Guillermo Novo acquired 31,294 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Ashland

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Ashland by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,928,924 shares of the basic materials company’s stock worth $352,221,000 after buying an additional 66,530 shares during the period. Eminence Capital LP boosted its holdings in Ashland by 8.0% in the 4th quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company’s stock worth $204,409,000 after buying an additional 212,916 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ashland by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,818,695 shares of the basic materials company’s stock worth $201,423,000 after buying an additional 44,018 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Ashland by 8.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company’s stock worth $200,583,000 after buying an additional 208,320 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Ashland by 16.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock worth $73,074,000 after buying an additional 142,121 shares during the period. Institutional investors own 93.95% of the company’s stock.

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.