Ashland Inc. (NYSE:ASH – Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $72.40 and last traded at $72.75, with a volume of 414046 shares traded. The stock had previously closed at $73.08.
Analyst Ratings Changes
ASH has been the topic of several research analyst reports. Wells Fargo & Company dropped their price target on Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Ashland presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.
View Our Latest Stock Analysis on ASH
Ashland Price Performance
Ashland (NYSE:ASH – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, equities research analysts expect that Ashland Inc. will post 4.52 earnings per share for the current year.
Ashland Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.25%. Ashland’s dividend payout ratio is currently 48.36%.
Insiders Place Their Bets
In other news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now owns 14,182 shares of the company’s stock, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ashland
Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in shares of Ashland by 6,127.2% during the third 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ashland by 12.3% in the third 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 acquiring an additional 284,215 shares in the last quarter. AQR Capital Management LLC increased its holdings in Ashland by 616.6% during the 2nd quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company’s stock worth $17,875,000 after purchasing an additional 162,776 shares during the period. Hantz Financial Services Inc. acquired a new stake in Ashland in the 2nd quarter valued at about $14,346,000. Finally, American Century Companies Inc. grew its position in shares of Ashland by 407.2% during the second quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock worth $13,202,000 after buying an additional 112,169 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other 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.
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