Ashland (NYSE:ASH) Hits New 12-Month Low – Time to Sell?

Ashland Inc. (NYSE:ASH) shares hit a new 52-week low on Wednesday . The stock traded as low as $72.40 and last traded at $72.75, with a volume of 414046 shares trading hands. The stock had previously closed at $73.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their target price on Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, BMO Capital Markets raised their price target on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Ashland Stock Down 0.4 %

The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33. The business has a fifty day moving average price of $80.93 and a two-hundred day moving average price of $87.50.

Ashland (NYSE:ASH) last issued 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). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. During the same quarter last year, the company posted $0.41 EPS. Ashland’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that Ashland Inc. will post 4.52 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.405 per share. The ex-dividend date was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 2.23%. Ashland’s dividend payout ratio is presently 48.36%.

Insiders Place Their Bets

In related news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the sale, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction on Thursday, December 5th. The shares were 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. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Ashland

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Ashland by 6,127.2% in the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after acquiring an additional 866,320 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Ashland by 12.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock worth $226,000,000 after purchasing an additional 284,215 shares during the last quarter. AQR Capital Management LLC raised its position in shares of 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 last quarter. Hantz Financial Services Inc. purchased a new position in shares of Ashland in the second quarter valued at approximately $14,346,000. Finally, American Century Companies Inc. raised its stake in Ashland by 407.2% in the 2nd quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock valued at $13,202,000 after purchasing an additional 112,169 shares during the last quarter. 93.95% of the stock is 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.