Ashland (NYSE:ASH) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Ashland Inc. (NYSE:ASH) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $62.58 and traded as high as $71.55. Ashland shares last traded at $70.4710, with a volume of 624,989 shares.

Wall Street Analyst Weigh In

ASH has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Ashland from $58.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. BMO Capital Markets upped their price target on Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Mizuho boosted their price objective on Ashland from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, UBS Group lifted their price target on shares of Ashland from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Ashland has a consensus rating of “Moderate Buy” and an average price target of $73.90.

Ashland Price Performance

The firm has a market cap of $3.17 billion, a PE ratio of 60.72, a P/E/G ratio of 2.11 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.05 and a quick ratio of 1.89. The business’s fifty day moving average is $71.52 and its 200-day moving average is $62.63.

Ashland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 1st. Ashland’s payout ratio is presently 147.37%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in shares of Ashland during the second quarter valued at approximately $35,000. Bullseye Investment Management LLC purchased a new stake in Ashland in the second quarter worth $38,000. GAMMA Investing LLC increased its stake in shares of Ashland by 38.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 277 shares in the last quarter. Nykredit A S purchased a new position in Ashland during the 2nd quarter valued at about $85,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Ashland in the 2nd quarter worth approximately $94,000. 93.95% of the stock is currently owned by institutional investors.

Ashland Company Profile

Ashland Inc (NYSE:ASH) is a global specialty materials company that develops and manufactures additives, ingredients and performance solutions for a range of consumer and industrial applications. Its products are designed to improve the performance, stability, texture and functionality of products made by customers in industries such as pharmaceuticals, personal care, coatings, construction, adhesives and specialty chemicals.

The company’s portfolio includes cellulose-based and synthetic polymers, vinyl pyrrolidone-based products, specialty additives, pharmaceutical excipients, personal care ingredients and water-based technologies.