Ashland (NYSE:ASH) Price Target Lowered to $69.00 at Wells Fargo & Company

Ashland (NYSE:ASH) had its target price reduced by Wells Fargo & Company from $80.00 to $69.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. UBS Group cut their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. 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 note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Ashland from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $71.00 in a research note on Wednesday. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Ashland Price Performance

ASH stock opened at $59.69 on Thursday. Ashland has a 1 year low of $54.86 and a 1 year high of $102.50. The firm has a market capitalization of $2.82 billion, a P/E ratio of -90.44, a P/E/G ratio of 1.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The business’s 50-day moving average is $62.79 and its two-hundred day moving average is $73.89.

Ashland (NYSE:ASH) last issued its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter in the previous year, the company posted $0.45 earnings per share. Analysts anticipate that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.71%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Buying and Selling

In related news, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ASH. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ashland by 10.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 317 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Ashland in the 4th quarter worth $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ashland by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,841 shares of the basic materials company’s stock valued at $9,922,000 after acquiring an additional 18,100 shares in the last quarter. Worldquant Millennium Advisors LLC increased its stake in shares of Ashland by 25.9% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 4,753 shares of the basic materials company’s stock worth $340,000 after acquiring an additional 977 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in Ashland by 5.7% during the fourth quarter. Two Sigma Advisers LP now owns 20,500 shares of the basic materials company’s stock worth $1,465,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds 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.