Ashland Inc. (NYSE:ASH) Short Interest Up 6.0% in November

Ashland Inc. (NYSE:ASH) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,060,000 shares, a growth of 6.0% from the November 15th total of 1,000,000 shares. Based on an average daily trading volume, of 444,100 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ASH shares. Wells Fargo & Company decreased their price objective on Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research 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 boosted their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Insider Activity

In other Ashland news, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $224,585.70. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Ashland

A number of institutional investors have recently added to or reduced their stakes in ASH. Prospera Private Wealth LLC acquired a new stake in Ashland in the third quarter valued at $31,000. UMB Bank n.a. raised its stake in shares of Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 251 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Ashland in the third quarter worth about $38,000. Assetmark Inc. increased its holdings in Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after buying an additional 464 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Ashland during the second quarter valued at approximately $71,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Trading Down 0.9 %

NYSE:ASH traded down $0.67 during trading hours on Tuesday, reaching $73.08. 443,563 shares of the company were exchanged, compared to its average volume of 422,204. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 1.15 and a beta of 0.86. The stock has a 50 day simple moving average of $80.93 and a 200 day simple moving average of $87.50. Ashland has a 52-week low of $72.83 and a 52-week high of $102.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

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 for the quarter, compared to analysts’ expectations of $524.07 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts predict that Ashland will post 4.52 EPS for the current year.

Ashland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given 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 2.22%. Ashland’s payout ratio is currently 48.36%.

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.