Ashland (NYSE:ASH) Sets New 52-Week Low – Should You Sell?

Shares of Ashland Inc. (NYSE:ASH) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $54.86 and last traded at $55.94, with a volume of 437276 shares changing hands. The stock had previously closed at $56.33.

Analyst Upgrades and Downgrades

ASH has been the subject of several recent analyst reports. UBS Group reduced their target price on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $87.00.

Ashland Stock Up 0.7 %

The stock has a fifty day moving average price of $63.95 and a 200 day moving average price of $74.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The stock has a market capitalization of $2.66 billion, a P/E ratio of -85.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $0.45 earnings per share. On average, research analysts forecast that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.405 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.88%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Buying and Selling at Ashland

In related news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost 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 owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Ashland

Several large investors have recently modified their holdings of the business. Natixis Advisors LLC boosted its position in Ashland by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 75,575 shares of the basic materials company’s stock valued at $6,573,000 after acquiring an additional 1,012 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Ashland during the 3rd quarter valued at approximately $31,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ashland during the 3rd quarter valued at approximately $2,731,000. Massachusetts Financial Services Co. MA boosted its position in Ashland by 12.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after acquiring an additional 284,215 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Ashland by 6,127.2% during the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after acquiring an additional 866,320 shares in the last quarter. 93.95% of the stock is owned by institutional investors.

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.