Ashland (NYSE:ASH) Sets New 12-Month Low – Here’s Why

Ashland Inc. (NYSE:ASH)’s share price hit a new 52-week low during 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group lowered their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. BMO Capital Markets boosted their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Ashland presently has an average rating of “Hold” and an average target price of $87.00.

Ashland Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The company has a market capitalization of $2.64 billion, a PE ratio of -84.75, a P/E/G ratio of 1.14 and a beta of 0.89. The business has a 50-day moving average of $64.53 and a 200 day moving average of $75.18.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) 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 period in the previous year, the company earned $0.45 EPS. Equities research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.90%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Buying and Selling at Ashland

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the purchase, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Ashland by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,928,924 shares of the basic materials company’s stock valued at $352,221,000 after buying an additional 66,530 shares during the last quarter. Eminence Capital LP grew its stake in shares of Ashland by 8.0% during the fourth quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company’s stock valued at $204,409,000 after buying an additional 212,916 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ashland by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,695 shares of the basic materials company’s stock valued at $201,423,000 after buying an additional 44,018 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Ashland by 8.0% during the fourth 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 buying an additional 208,320 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Ashland by 16.1% during the fourth 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 during 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.