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

Shares of Ashland Inc. (NYSE:ASH) hit a new 52-week low on Tuesday . The company traded as low as $56.08 and last traded at $56.58, with a volume of 57915 shares trading hands. The stock had previously closed at $57.36.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ASH. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. UBS Group dropped 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. dropped 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. Wells Fargo & Company dropped their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, BMO Capital Markets boosted their price target on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ashland has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Ashland Price Performance

The firm has a market cap of $2.70 billion, a PE ratio of -86.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $65.66 and a two-hundred day moving average price of $76.19.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 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 business posted $0.45 earnings per share. As a group, equities analysts expect that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently announced 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. This represents a $1.62 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Buying and Selling

In related news, CEO Guillermo Novo bought 31,294 shares of the company’s stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by company insiders.

Institutional Trading of Ashland

Large investors have recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new position in shares of Ashland during the 3rd quarter worth $31,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Ashland during the 3rd quarter worth $38,000. Versant Capital Management Inc purchased a new position in shares of Ashland during the 4th quarter worth $33,000. Assetmark Inc. grew its holdings in shares of Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares during the period. Finally, Atala Financial Inc purchased a new position in shares of Ashland during the 4th quarter worth $56,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

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.