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 report sent to investors on Wednesday morning.

ASH has been the subject of several other reports. UBS Group decreased their price target on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets increased their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their target price on Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Ashland Stock Down 9.7 %

Shares of ASH opened at $64.29 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. Ashland has a 52 week low of $63.93 and a 52 week high of $102.50. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.14 and a beta of 0.87. The stock has a fifty day moving average of $73.16 and a 200-day moving average of $82.09.

Ashland (NYSE:ASH) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a net margin of 7.95% and a return on equity of 7.43%. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Ashland will post 4.31 earnings per share for the current fiscal year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s dividend payout ratio is 48.36%.

Insider Buying and Selling

In related news, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ashland

A number of institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Ashland during the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its position 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 buying an additional 251 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Ashland during the fourth quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Ashland in the 3rd quarter valued at $38,000. Finally, Assetmark Inc. lifted its stake in Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 464 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.