Ashland (NYSE:ASH) Hits New 1-Year Low – Here’s What Happened

Ashland Inc. (NYSE:ASH)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $70.40 and last traded at $70.48, with a volume of 18972 shares trading hands. The stock had previously closed at $71.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ASH shares. BMO Capital Markets raised their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. 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 report on Wednesday, December 11th. Finally, StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The stock has a market capitalization of $3.34 billion, a P/E ratio of 21.14, a PEG ratio of 1.15 and a beta of 0.86. The business has a 50-day moving average price of $78.60 and a 200 day moving average price of $85.93.

Ashland (NYSE:ASH) last released 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). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The company had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. During the same period last year, the firm posted $0.41 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Ashland Inc. will post 4.52 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid 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 2.29%. Ashland’s dividend payout ratio is currently 48.36%.

Insider Transactions at Ashland

In related news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the sale, the vice president now directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. This trade represents a 3.08 % 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, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Trading of Ashland

A number of large investors have recently made changes to their positions in ASH. Edgestream Partners L.P. purchased a new stake in Ashland in the third quarter worth approximately $3,134,000. 1832 Asset Management L.P. lifted its holdings in shares of Ashland by 2.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock valued at $63,492,000 after buying an additional 14,938 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ashland by 138.6% in 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 during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Ashland in the second quarter worth $2,442,000. Finally, Deprince Race & Zollo Inc. increased its position in Ashland by 2.4% during the second quarter. Deprince Race & Zollo Inc. now owns 581,204 shares of the basic materials company’s stock valued at $54,918,000 after acquiring an additional 13,577 shares during the last quarter. 93.95% of the stock is currently owned by 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.