Ashland (NYSE:ASH) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Ashland (NYSE:ASH) from a buy rating to a hold rating in a research note released on Tuesday.

Several other research firms have also recently issued reports on ASH. UBS Group increased their price target on shares of Ashland from $114.00 to $116.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Wolfe Research began coverage on Ashland in a research note on Friday, March 1st. They set an outperform rating and a $108.00 target price for the company. Wells Fargo & Company upgraded Ashland from an equal weight rating to an overweight rating and lifted their price target for the company from $100.00 to $112.00 in a research note on Thursday, April 11th. BMO Capital Markets raised their target price on Ashland from $97.00 to $105.00 and gave the company a market perform rating in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ashland from $88.00 to $90.00 and gave the stock an underweight rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ashland currently has a consensus rating of Moderate Buy and a consensus target price of $106.44.

Ashland Stock Up 1.6 %

Ashland stock opened at $99.62 on Tuesday. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 0.98 and a beta of 0.92. The company has a current ratio of 3.15, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $96.64 and a two-hundred day moving average of $89.19. Ashland has a twelve month low of $70.82 and a twelve month high of $100.99.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.13. The firm had revenue of $575.00 million for the quarter, compared to analyst estimates of $574.64 million. Ashland had a net margin of 9.09% and a return on equity of 5.57%. Ashland’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.43 EPS. As a group, research analysts expect that Ashland will post 4.47 earnings per share for the current year.

Ashland Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a $0.405 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Ashland’s previous quarterly dividend of $0.39. Ashland’s dividend payout ratio (DPR) is currently 40.85%.

Institutional Trading of Ashland

Several institutional investors and hedge funds have recently modified their holdings of ASH. GAMMA Investing LLC raised its position in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Ashland in the fourth quarter valued at $28,000. Hexagon Capital Partners LLC boosted its stake in shares of Ashland by 143.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 223 shares during the last quarter. Covestor Ltd increased its position in Ashland by 338.0% during the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 311 shares in the last quarter. Finally, Allworth Financial LP increased its position in Ashland by 43.1% during the 3rd quarter. Allworth Financial LP now owns 561 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.