Ashland (NYSE:ASH) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Ashland (NYSE:ASH) from a buy rating to a hold rating in a research note released on Thursday morning.

Other research analysts have also issued research reports about the company. UBS Group lowered their price target on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company decreased their price objective on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, BMO Capital Markets lifted their target price on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Ashland Trading Down 1.1 %

NYSE ASH opened at $74.12 on Thursday. The firm has a market cap of $3.49 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. Ashland has a 1-year low of $74.00 and a 1-year high of $102.50. The stock has a 50-day moving average of $81.58 and a 200-day moving average of $88.21. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last issued its earnings results 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 firm had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. Ashland had a return on equity of 7.43% and a net margin of 7.95%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, sell-side analysts forecast that Ashland will post 4.66 EPS for the current year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is 48.36%.

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $77.90, for a total value 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 approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ashland

Several institutional investors have recently made changes to their positions in the business. Prospera Private Wealth LLC purchased a new position in shares of Ashland during the 3rd quarter worth $31,000. UMB Bank n.a. lifted its position in Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 251 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Ashland during the third quarter valued at about $38,000. Assetmark Inc. increased its position in Ashland by 610.5% in 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. Finally, Quest Partners LLC raised its stake in shares of Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after buying an additional 739 shares during the period. Institutional investors own 93.95% of the company’s stock.

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.