Ashland (NYSE:ASH) Price Target Cut to $93.00 by Analysts at UBS Group

Ashland (NYSE:ASH) had its target price reduced by UBS Group from $95.00 to $93.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. BMO Capital Markets raised their price target on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Ashland presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Ashland Trading Down 9.7 %

NYSE ASH opened at $64.29 on Wednesday. Ashland has a one year low of $63.93 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87. The company’s 50-day simple moving average is $73.16 and its two-hundred day simple moving average is $82.09.

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 the consensus estimate of $0.79 by ($0.51). Ashland had a net margin of 7.95% and a return on equity of 7.43%. During the same quarter in the previous year, the business earned $0.45 EPS. Equities analysts forecast that Ashland will post 4.31 EPS for the current fiscal year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.52%. Ashland’s payout ratio is currently 48.36%.

Insider Activity at Ashland

In related news, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Ashland

Several institutional investors and hedge funds have recently modified their holdings of ASH. Prospera Private Wealth LLC purchased a new position in Ashland during the third quarter valued at approximately $31,000. UMB Bank n.a. grew its stake in shares of Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 251 shares during the period. Versant Capital Management Inc purchased a new position in shares of Ashland during the 4th quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ashland in the 3rd quarter valued at $38,000. Finally, Assetmark Inc. boosted its holdings in Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares in the last quarter. Institutional investors and hedge funds 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.