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

Ashland Inc. (NYSE:ASH)’s share price reached a new 52-week low on Wednesday . The company 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.

Analyst Upgrades and Downgrades

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

Ashland Stock Down 0.1 %

The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.45, 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 firm’s 50-day simple moving average is $80.44 and its two-hundred day simple moving average is $87.29.

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

Ashland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.25%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Buying and Selling

In related news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares in the company, 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. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Ashland

Several hedge funds have recently made changes to their positions in ASH. Prospera Private Wealth LLC acquired a new position in Ashland in the third quarter worth approximately $31,000. UMB Bank n.a. grew its holdings in shares of Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ashland in the 3rd quarter valued at $38,000. Assetmark Inc. grew its position in shares of Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Ashland in the 2nd quarter valued at approximately $71,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

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.