Ashland Inc. (NYSE:ASH) CEO Purchases $2,010,326.56 in Stock

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

Ashland Price Performance

NYSE:ASH opened at $60.85 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $72.19 and its two-hundred day moving average price is $81.28. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -92.20, a P/E/G ratio of 1.11 and a beta of 0.87. Ashland Inc. has a 12-month low of $60.60 and a 12-month high of $102.50.

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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period in the prior year, the business posted $0.45 EPS. On average, analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, February 28th. Ashland’s dividend payout ratio is presently -245.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ASH shares. BMO Capital Markets lifted their price objective on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their target price on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company decreased 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, UBS Group reduced their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.57.

Institutional Investors Weigh In On Ashland

Several hedge funds have recently modified their holdings of ASH. Pacer Advisors Inc. raised its position in Ashland by 6,127.2% during the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock worth $76,574,000 after purchasing an additional 866,320 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Ashland by 12.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after buying an additional 284,215 shares in the last quarter. SG Americas Securities LLC increased its position in Ashland by 2,060.5% in the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock valued at $12,802,000 after buying an additional 170,859 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Ashland by 703.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock valued at $13,206,000 after buying an additional 161,812 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Ashland by 6.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock valued at $151,131,000 after purchasing an additional 103,517 shares during the last quarter. Institutional investors and hedge funds 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.