Ashland (NYSE:ASH) Price Target Lowered to $90.00 at Wells Fargo & Company

Ashland (NYSE:ASH) had its target price cut by Wells Fargo & Company from $95.00 to $90.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other brokerages have also recently commented on ASH. BMO Capital Markets decreased their price objective on Ashland from $92.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 19th. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, 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 note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Stock Up 0.9 %

Shares of NYSE ASH opened at $74.78 on Wednesday. Ashland has a 1 year low of $72.83 and a 1 year high of $102.50. The firm’s 50-day moving average is $81.36 and its 200-day moving average is $88.03. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.52 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. During the same period in the previous year, the business posted $0.41 earnings per share. Ashland’s revenue was up .8% compared to the same quarter last year. Equities analysts expect that Ashland will post 4.52 EPS for the current year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, November 29th. Ashland’s dividend payout ratio is currently 48.36%.

Insider Activity at Ashland

In related news, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the sale, the vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the 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 transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Edgestream Partners L.P. acquired a new stake in Ashland in the 3rd quarter valued at approximately $3,134,000. SG Americas Securities LLC bought a new stake in shares of Ashland in the second quarter worth $713,000. 1832 Asset Management L.P. boosted its holdings in Ashland by 2.3% during the second quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock worth $63,492,000 after purchasing an additional 14,938 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Ashland in the second quarter valued at $2,442,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ashland by 138.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock worth $10,501,000 after buying an additional 70,145 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

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.