Ashland Inc. (NYSE:ASH) CEO Acquires $2,010,326.56 in Stock

Ashland Inc. (NYSE:ASH) CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the purchase, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at $2,010,326.56. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ashland Price Performance

NYSE ASH traded down $2.64 on Monday, hitting $60.85. 895,909 shares of the company were exchanged, compared to its average volume of 653,200. The firm has a 50 day moving average of $72.57 and a two-hundred day moving average of $81.53. The company has a market cap of $2.87 billion, a P/E ratio of -92.20, a P/E/G ratio of 1.11 and a beta of 0.87. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Ashland Inc. has a 1-year low of $60.60 and a 1-year high of $102.50.

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 the consensus estimate 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 last year, the company posted $0.45 EPS. On average, equities analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.405 per share. The ex-dividend date is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 2.66%. Ashland’s payout ratio is presently -245.45%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position in Ashland by 12.6% during the 4th quarter. Handelsbanken Fonder AB now owns 14,300 shares of the basic materials company’s stock valued at $1,022,000 after purchasing an additional 1,600 shares during the period. Ieq Capital LLC bought a new stake in shares of Ashland in the 4th quarter valued at about $1,664,000. State of New Jersey Common Pension Fund D increased its stake in shares of Ashland by 22.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,480 shares of the basic materials company’s stock valued at $1,964,000 after acquiring an additional 5,092 shares during the last quarter. PUREfi Wealth LLC bought a new stake in Ashland during the 4th quarter worth approximately $325,000. Finally, Vontobel Holding Ltd. increased its stake in Ashland by 11.4% during the 4th quarter. Vontobel Holding Ltd. now owns 3,541 shares of the basic materials company’s stock worth $253,000 after purchasing an additional 362 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group dropped their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. BMO Capital Markets boosted their price target on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.57.

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.