Ashland (NYSE:ASH) Hits New 52-Week Low Following Weak Earnings

Ashland Inc. (NYSE:ASHGet Free Report)’s share price reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The company traded as low as $68.01 and last traded at $68.43, with a volume of 312618 shares trading hands. The stock had previously closed at $71.16.

The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a return on equity of 7.43% and a net margin of 7.95%. During the same period in the previous year, the business earned $0.45 EPS.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 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 2.54%. The ex-dividend date is Friday, February 28th. Ashland’s payout ratio is currently -245.45%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASH. JPMorgan Chase & Co. reduced their price objective on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group lowered their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets increased their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.57.

View Our Latest Analysis on Ashland

Insiders Place Their Bets

In related news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at $224,585.70. This represents a 23.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $35,209.57. Following the sale, the vice president now directly owns 14,182 shares in the company, 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 corporate insiders.

Institutional Trading of Ashland

A number of hedge funds and other institutional investors have recently made changes to their positions in ASH. Pacer Advisors Inc. boosted its stake in Ashland by 6,127.2% during the third quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after buying an additional 866,320 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 valued at $226,000,000 after purchasing an additional 284,215 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Ashland by 2,060.5% in the 4th quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock worth $12,802,000 after purchasing an additional 170,859 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Ashland by 703.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after purchasing an additional 161,812 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Ashland by 6.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock worth $151,131,000 after purchasing an additional 103,517 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

Ashland Stock Down 0.6 %

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 stock has a market capitalization of $3.00 billion, a P/E ratio of 19.04, a PEG ratio of 1.14 and a beta of 0.87. The stock’s fifty day moving average is $72.88 and its two-hundred day moving average is $81.96.

Ashland Company Profile

(Get Free Report)

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.

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