Ashland (NYSE:ASH) Rating Lowered to Hold at StockNews.com

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

A number of other research firms also recently commented on ASH. BMO Capital Markets raised their target price on Ashland from $97.00 to $105.00 and gave the company a market perform rating in a report on Tuesday, May 7th. Mizuho lifted their price target on Ashland from $101.00 to $110.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. UBS Group lifted their price target on Ashland from $114.00 to $116.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised Ashland from an equal weight rating to an overweight rating and lifted their price target for the stock from $100.00 to $112.00 in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on Ashland from $88.00 to $90.00 and gave the stock an underweight rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ashland has a consensus rating of Moderate Buy and a consensus price target of $107.88.

Ashland Price Performance

Ashland stock opened at $96.19 on Wednesday. Ashland has a one year low of $70.82 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 3.15. The business has a fifty day moving average of $96.76 and a two-hundred day moving average of $94.11. The company has a market cap of $4.82 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 0.91 and a beta of 0.90.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.13. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The company had revenue of $575.00 million during the quarter, compared to the consensus estimate of $574.64 million. During the same quarter last year, the company earned $1.43 earnings per share. Ashland’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, analysts predict that Ashland will post 4.56 earnings per share for the current fiscal year.

Ashland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, May 31st. This is a boost from Ashland’s previous quarterly dividend of $0.39. Ashland’s dividend payout ratio (DPR) is currently 42.97%.

Institutional Trading of Ashland

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. Franklin Resources Inc. grew its holdings in Ashland by 274.4% in the 4th quarter. Franklin Resources Inc. now owns 495,748 shares of the basic materials company’s stock valued at $41,797,000 after buying an additional 363,328 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Ashland by 18.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,671,593 shares of the basic materials company’s stock worth $140,932,000 after acquiring an additional 256,828 shares in the last quarter. Clearbridge Investments LLC lifted its position in Ashland by 17.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,656,654 shares of the basic materials company’s stock worth $139,673,000 after acquiring an additional 252,104 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Ashland by 7.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,424,801 shares of the basic materials company’s stock worth $204,435,000 after acquiring an additional 164,468 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Ashland by 157.6% during the 4th quarter. Mutual of America Capital Management LLC now owns 198,064 shares of the basic materials company’s stock worth $16,699,000 after acquiring an additional 121,161 shares in 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.