Ashland (NYSE:ASH) Reaches New 52-Week Low – What’s Next?

Shares of Ashland Inc. (NYSE:ASH) hit a new 52-week low on Friday . The stock traded as low as $69.00 and last traded at $69.54, with a volume of 14948 shares. The stock had previously closed at $70.35.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on 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 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. Three investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Ashland Stock Performance

The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.15 and a beta of 0.87. The stock has a 50 day simple moving average of $75.92 and a 200 day simple moving average of $84.45.

Ashland (NYSE:ASH) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The firm had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts predict that Ashland Inc. will post 4.52 EPS for the current year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, November 29th. Ashland’s dividend payout ratio is currently 48.36%.

Insider Buying and Selling at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction 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 owns 14,182 shares in the company, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction dated 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 $224,585.70. The trade was a 23.14 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ashland

A number of institutional investors have recently added to or reduced their stakes in ASH. Dimensional Fund Advisors LP grew its holdings in Ashland by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,773,170 shares of the basic materials company’s stock worth $262,037,000 after acquiring an additional 86,977 shares during the period. 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. 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. Pacer Advisors Inc. lifted 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 purchasing an additional 866,320 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ashland by 0.3% during the third quarter. Geode Capital Management LLC now owns 827,642 shares of the basic materials company’s stock worth $72,000,000 after buying an additional 2,316 shares in the last quarter. 93.95% of the stock is currently 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.