Ashland (NYSE:ASH) Sets New 1-Year Low – Here’s Why

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

Wall Street Analysts Forecast Growth

ASH has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of 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 raised their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Stock Down 2.3 %

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 firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87. The firm has a 50 day moving average of $75.59 and a two-hundred day moving average of $84.18.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (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 during the quarter, compared to analyst estimates of $524.07 million. During the same period in the previous year, the company earned $0.41 EPS. Ashland’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ashland Inc. will post 4.52 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a dividend of $0.405 per share. The ex-dividend date was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.36%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Activity

In related news, 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 sale, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Ashland

A number of hedge funds have recently added to or reduced their stakes in ASH. Commonwealth Equity Services LLC lifted its holdings in Ashland by 7.8% during the second quarter. Commonwealth Equity Services LLC now owns 12,634 shares of the basic materials company’s stock valued at $1,194,000 after purchasing an additional 918 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Ashland by 27.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,289 shares of the basic materials company’s stock valued at $1,445,000 after acquiring an additional 3,299 shares during the last quarter. Quest Partners LLC increased its position in shares of Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 739 shares during the last quarter. AGF Management Ltd. raised its position in shares of Ashland by 16.0% during the 2nd quarter. AGF Management Ltd. now owns 20,309 shares of the basic materials company’s stock valued at $1,919,000 after buying an additional 2,804 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Ashland by 407.2% in the second quarter. American Century Companies Inc. now owns 139,718 shares of the basic materials company’s stock worth $13,202,000 after acquiring 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.