Ashland (NYSE:ASH) Reaches New 12-Month Low After Insider Selling

Ashland Inc. (NYSE:ASH) shares hit a new 52-week low during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $74.89 and last traded at $75.16, with a volume of 30181 shares trading hands. The stock had previously closed at $76.28.

Specifically, VP Eric N. Boni sold 451 shares of the 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 directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. BMO Capital Markets lowered their target price on Ashland from $92.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 19th. Finally, UBS Group lowered their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.29.

Ashland Stock Down 0.5 %

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 moving average price is $81.99 and its two-hundred day moving average price is $88.40. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.12 and a beta of 0.86.

Ashland (NYSE:ASH) last released its quarterly 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). The company 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%. Ashland’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. As a group, sell-side analysts forecast that Ashland Inc. will post 4.66 earnings per share 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 paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.13%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Institutional Investors Weigh In On Ashland

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position 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 worth $76,574,000 after buying an additional 866,320 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Ashland by 12.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock worth $226,000,000 after purchasing an additional 284,215 shares in the last quarter. AQR Capital Management LLC grew its holdings in Ashland by 616.6% in the second quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company’s stock valued at $17,875,000 after purchasing an additional 162,776 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Ashland in the second quarter valued at $14,346,000. Finally, American Century Companies Inc. boosted its position in shares of Ashland by 407.2% in the 2nd quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock worth $13,202,000 after buying an additional 112,169 shares in the last quarter. 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.