Ashland Inc. (NYSE:ASH) Given Average Recommendation of “Moderate Buy” by Analysts

Ashland Inc. (NYSE:ASH) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $85.40.

Several research analysts have recently weighed in on the company. Seaport Res Ptn cut Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised shares of Ashland from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, March 26th.

Ashland Stock Down 0.9 %

NYSE:ASH opened at $48.75 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The firm has a market cap of $2.30 billion, a P/E ratio of -73.87, a P/E/G ratio of 1.14 and a beta of 0.70. Ashland has a fifty-two week low of $46.21 and a fifty-two week high of $102.50. The firm has a 50-day simple moving average of $60.46 and a two-hundred day simple moving average of $72.18.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts predict that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.32%. Ashland’s dividend payout ratio (DPR) is -245.45%.

Insiders Place Their Bets

In related news, CEO Guillermo Novo bought 31,294 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, the chief executive officer now owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ASH. Versant Capital Management Inc purchased a new stake in shares of Ashland in the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Ashland in the 3rd quarter worth $38,000. Atala Financial Inc purchased a new stake in Ashland in the 4th quarter worth $56,000. Covestor Ltd raised its holdings in Ashland by 80.6% during the fourth quarter. Covestor Ltd now owns 959 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 428 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Ashland by 84.1% in the fourth quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 454 shares in the last quarter. Institutional investors 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.