Ashland (NYSE:ASH) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ashland (NYSE:ASH) from a neutral rating to an overweight rating in a report issued on Wednesday, MarketBeat reports. They currently have $71.00 target price on the basic materials company’s stock, up from their previous target price of $68.00.

Several other equities research analysts also recently commented on ASH. Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. UBS Group reduced their price target on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their target price on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Ashland Stock Down 1.3 %

NYSE:ASH opened at $58.99 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The firm has a market cap of $2.78 billion, a P/E ratio of -89.38, a P/E/G ratio of 1.14 and a beta of 0.89. Ashland has a fifty-two week low of $54.86 and a fifty-two week high of $102.50. The firm has a 50-day simple moving average of $62.54 and a two-hundred day simple moving average of $73.71.

Ashland (NYSE:ASH) last announced its quarterly 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 in the prior year, the company posted $0.45 EPS. Analysts predict that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 2.75%. Ashland’s payout ratio is presently -245.45%.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the acquisition, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ASH. Vanguard Group Inc. increased 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 acquiring an additional 66,530 shares in the last quarter. Eminence Capital LP boosted its position in shares of Ashland by 8.0% in the fourth quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company’s stock worth $204,409,000 after purchasing an additional 212,916 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Ashland by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,695 shares of the basic materials company’s stock worth $201,423,000 after purchasing an additional 44,018 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Ashland by 8.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company’s stock valued at $200,583,000 after purchasing an additional 208,320 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Ashland by 16.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock valued at $73,074,000 after buying an additional 142,121 shares in the last quarter. 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.