Ashland (NYSE:ASH) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Ashland (NYSE:ASH) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Other equities analysts have also issued research reports about the company. UBS Group cut their target price on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets reduced their price objective on shares of Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $89.00 in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their target price on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.29.

Ashland Trading Down 1.3 %

Shares of ASH opened at $75.49 on Wednesday. The stock’s fifty day simple moving average is $82.41 and its 200-day simple moving average is $88.87. The firm has a market capitalization of $3.56 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. Ashland has a 12-month low of $75.04 and a 12-month high of $102.50. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last released 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 net margin of 7.95% and a return on equity of 7.43%. The business had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts predict that Ashland will post 4.66 earnings per share for the current year.

Ashland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.15%. Ashland’s dividend payout ratio (DPR) is currently 48.36%.

Insider Buying and Selling at Ashland

In other news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Ashland

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Equitable Trust Co. grew its stake in shares of Ashland by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after acquiring an additional 141 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Ashland by 2.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,295 shares of the basic materials company’s stock worth $681,000 after purchasing an additional 149 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Ashland by 5.5% in the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after purchasing an additional 163 shares in the last quarter. Creative Planning lifted its position in shares of Ashland by 3.8% in the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock worth $460,000 after purchasing an additional 176 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Ashland by 5.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 182 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

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.