Ashland (NYSE:ASH) Hits New 12-Month Low – Here’s What Happened

Ashland Inc. (NYSE:ASH) hit a new 52-week low during trading on Thursday . The company traded as low as $53.41 and last traded at $53.67, with a volume of 109496 shares trading hands. The stock had previously closed at $57.87.

Analyst Ratings Changes

Several brokerages recently weighed in on ASH. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $71.00 in a report on Wednesday, March 26th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group reduced their price objective 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. Wells Fargo & Company lowered their target price on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, Seaport Res Ptn lowered Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.40.

Ashland Stock Performance

The company’s fifty day simple moving average is $61.73 and its 200 day simple moving average is $73.06. The stock has a market capitalization of $2.50 billion, a P/E ratio of -80.39, a P/E/G 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.

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 earned $0.45 earnings per share. As a group, sell-side analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Activity

In other news, CEO Guillermo Novo acquired 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 approximately $2,010,326.56. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in Ashland by 10.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 317 shares during the period. Public Employees Retirement System of Ohio bought a new position in Ashland during the 4th quarter worth approximately $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ashland by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,841 shares of the basic materials company’s stock worth $9,922,000 after buying an additional 18,100 shares during the period. Worldquant Millennium Advisors LLC increased its position in shares of Ashland by 25.9% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 4,753 shares of the basic materials company’s stock valued at $340,000 after acquiring an additional 977 shares during the period. Finally, Two Sigma Advisers LP raised its position in Ashland by 5.7% during the 4th quarter. Two Sigma Advisers LP now owns 20,500 shares of the basic materials company’s stock valued at $1,465,000 after purchasing an additional 1,100 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.