Ashland Inc. (NYSE:ASH) Plans $0.41 Quarterly Dividend

Ashland Inc. (NYSE:ASH) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Saturday, March 1st will be paid a dividend of 0.405 per share by the basic materials company on Saturday, March 15th. This represents a $1.62 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, February 28th.

Ashland has raised its dividend by an average of 10.8% per year over the last three years. Ashland has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ashland to earn $5.31 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 30.5%.

Ashland Stock Down 3.3 %

Shares of Ashland stock opened at $70.73 on Thursday. The company has a 50-day simple moving average of $73.87 and a two-hundred day simple moving average of $82.91. Ashland has a 52-week low of $68.14 and a 52-week high of $102.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The stock has a market capitalization of $3.33 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.02). The business had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. On average, analysts anticipate that Ashland will post 4.33 EPS for the current fiscal year.

Insider Transactions at Ashland

In related news, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the sale, the vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ASH shares. BMO Capital Markets boosted their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their target price on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

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.