Ashland Inc. (NYSE:ASH) Short Interest Update

Ashland Inc. (NYSE:ASH) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,060,000 shares, a growth of 6.0% from the November 15th total of 1,000,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 444,100 shares, the days-to-cover ratio is currently 2.4 days.

Ashland Trading Down 0.9 %

Shares of ASH traded down $0.67 during mid-day trading on Tuesday, reaching $73.08. The stock had a trading volume of 443,563 shares, compared to its average volume of 422,204. Ashland has a 52-week low of $72.83 and a 52-week high of $102.50. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.15 and a beta of 0.86. The business’s fifty day moving average is $80.93 and its 200 day moving average is $87.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share 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 net margin of 7.95% and a return on equity of 7.43%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. On average, sell-side analysts predict that Ashland will post 4.52 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.22%. Ashland’s dividend payout ratio is currently 48.36%.

Analyst Ratings Changes

ASH has been the subject of several research reports. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. BMO Capital Markets upped their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price target on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ashland has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Insider Transactions at Ashland

In other news, VP Eric N. Boni sold 451 shares of the company’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 completion of the transaction, the vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robin E. Lampkin sold 868 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Ashland

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Ashland in the second quarter valued at about $713,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ashland during the 2nd quarter worth approximately $251,000. Assenagon Asset Management S.A. purchased a new position in shares of Ashland during the 2nd quarter worth approximately $3,423,000. Raymond James & Associates increased its holdings in Ashland by 28.7% in the 2nd quarter. Raymond James & Associates now owns 99,777 shares of the basic materials company’s stock valued at $9,428,000 after purchasing an additional 22,280 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Ashland by 65.4% in the second quarter. Fifth Third Bancorp now owns 1,080 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 427 shares during the period. 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.