Ashland (NYSE:ASH) Cut to “Hold” at StockNews.com

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

Other equities analysts also recently issued research reports about the company. Mizuho upped their target price on Ashland from $101.00 to $110.00 and gave the company a buy rating in a report on Wednesday, May 1st. Jefferies Financial Group raised Ashland from a hold rating to a buy rating and raised their target price for the stock from $100.00 to $126.00 in a research report on Thursday, March 14th. Wells Fargo & Company raised Ashland from an equal weight rating to an overweight rating and raised their target price for the stock from $100.00 to $112.00 in a report on Thursday, April 11th. Wolfe Research began coverage on shares of Ashland in a research note on Friday, March 1st. They set an outperform rating and a $108.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ashland from $88.00 to $90.00 and gave the company an underweight rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ashland presently has an average rating of Moderate Buy and an average target price of $106.44.

Ashland Price Performance

ASH opened at $94.96 on Monday. The firm’s fifty day moving average price is $97.81 and its two-hundred day moving average price is $92.48. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94. Ashland has a 1 year low of $70.82 and a 1 year high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.13. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The business had revenue of $575.00 million during the quarter, compared to analyst estimates of $574.64 million. During the same period in the prior year, the company earned $1.43 earnings per share. Ashland’s revenue was down 4.6% compared to the same quarter last year. As a group, analysts anticipate that Ashland will post 4.55 earnings per share for the current fiscal year.

Ashland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Friday, May 31st. This is a positive change from Ashland’s previous quarterly dividend of $0.39. Ashland’s payout ratio is presently 42.97%.

Institutional Investors Weigh In On Ashland

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Ashland by 122.4% in the first quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Ashland during the fourth quarter worth $28,000. Hexagon Capital Partners LLC boosted its position in shares of Ashland by 143.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after buying an additional 223 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Ashland by 338.0% in the third quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 311 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Ashland by 163.7% during the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.