Wells Fargo & Company Cuts Ashland (NYSE:ASH) Price Target to $90.00

Ashland (NYSE:ASH) had its price target lowered by Wells Fargo & Company from $95.00 to $90.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

A number of other brokerages also recently commented on ASH. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. UBS Group decreased their price target on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, BMO Capital Markets lowered their price target on shares of Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and an average target price of $102.00.

Ashland Trading Up 0.9 %

Shares of ASH stock opened at $74.78 on Wednesday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. Ashland has a 1 year low of $72.83 and a 1 year high of $102.50. The firm’s fifty day simple moving average is $81.36 and its 200 day simple moving average is $88.03. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 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 company had revenue of $522.00 million for the quarter, compared to analyst estimates of $524.07 million. During the same period in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts predict that Ashland will post 4.52 EPS for the current year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, November 29th. Ashland’s dividend payout ratio is currently 48.36%.

Insider Buying and Selling at Ashland

In other Ashland news, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the transaction, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the sale, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new stake in Ashland in the 3rd quarter valued at about $31,000. UMB Bank n.a. grew its stake in shares of Ashland by 193.1% during the third 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland in the third quarter valued at approximately $38,000. Assetmark Inc. raised its position in Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Ashland during the 2nd quarter worth $71,000. 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.