Ashland (NYSE:ASH) Sets New 1-Year Low After Insider Selling

Ashland Inc. (NYSE:ASH)’s share price reached a new 52-week low during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $74.89 and last traded at $75.16, with a volume of 30181 shares. The stock had previously closed at $76.28.

Specifically, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now directly owns 14,182 shares in the company, valued at $1,107,188.74. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

ASH has been the topic of several analyst reports. UBS Group reduced their price target on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. BMO Capital Markets cut their price objective on Ashland from $92.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 19th. Finally, StockNews.com raised Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.29.

Ashland Stock Down 1.7 %

The stock has a market capitalization of $3.53 billion, a PE ratio of 22.77, a PEG ratio of 1.12 and a beta of 0.86. The firm’s fifty day moving average is $82.19 and its 200-day moving average is $88.57. 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 issued 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 company had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. During the same period last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts predict that Ashland Inc. will post 4.66 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a $0.405 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.16%. Ashland’s dividend payout ratio is presently 48.36%.

Institutional Trading of Ashland

Several large investors have recently modified their holdings of the business. CWM LLC boosted its position in Ashland by 311.5% during the second quarter. CWM LLC now owns 2,251 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 1,704 shares during the last quarter. QRG Capital Management Inc. boosted its position in Ashland by 22.2% during the second quarter. QRG Capital Management Inc. now owns 10,626 shares of the basic materials company’s stock worth $1,004,000 after acquiring an additional 1,933 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Ashland during the second quarter worth approximately $713,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Ashland during the second quarter worth approximately $251,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Ashland during the second quarter worth approximately $3,423,000. 93.95% of the stock is currently owned by institutional investors and hedge funds.

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.