Ashland (NYSE:ASH) Upgraded at StockNews.com

StockNews.com upgraded shares of Ashland (NYSE:ASH) from a hold rating to a buy rating in a report issued on Wednesday.

Other analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. BMO Capital Markets lowered their price target on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 19th. UBS Group cut their price objective on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised Ashland from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $89.00 in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.29.

Ashland Trading Down 1.3 %

Shares of NYSE:ASH opened at $75.49 on Wednesday. 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 stock has a market capitalization of $3.56 billion, a PE ratio of 22.53, a P/E/G ratio of 1.17 and a beta of 0.86. Ashland has a 1 year low of $75.04 and a 1 year high of $102.50. The firm has a fifty day moving average price of $82.41 and a 200 day moving average price of $88.87.

Ashland (NYSE:ASH) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (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 for the quarter, compared to the consensus estimate of $524.07 million. During the same quarter last year, the company posted $0.41 EPS. The business’s revenue was up .8% compared to the same quarter last year. Analysts expect that Ashland will post 4.66 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, November 29th. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Buying and Selling at Ashland

In other news, 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 value of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Ashland

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Ashland by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,613 shares of the basic materials company’s stock worth $2,397,000 after purchasing an additional 2,016 shares in the last quarter. GAMMA Investing LLC lifted its position in Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock worth $61,000 after buying an additional 372 shares in the last quarter. CWM LLC grew its holdings in Ashland by 311.5% during the 2nd quarter. CWM LLC now owns 2,251 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 1,704 shares during the last quarter. QRG Capital Management Inc. increased its position in Ashland by 22.2% in the 2nd quarter. QRG Capital Management Inc. now owns 10,626 shares of the basic materials company’s stock valued at $1,004,000 after acquiring an additional 1,933 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Ashland in the second quarter worth about $713,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Company Profile

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.