Ashland Inc. (NYSE:ASH) Given Consensus Rating of “Hold” by Brokerages

Ashland Inc. (NYSE:ASH) has earned an average rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $68.40.

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Ashland from $71.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Ashland from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Wells Fargo & Company downgraded shares of Ashland from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 1st. Mizuho set a $60.00 target price on shares of Ashland in a report on Tuesday, April 15th. Finally, UBS Group lowered their target price on shares of Ashland from $74.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday.

Ashland Stock Performance

Shares of ASH stock opened at $53.98 on Thursday. The business’s 50 day simple moving average is $50.76 and its 200 day simple moving average is $57.75. Ashland has a one year low of $45.21 and a one year high of $98.44. The stock has a market capitalization of $2.47 billion, a PE ratio of -22.49, a PEG ratio of 1.50 and a beta of 0.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.32 and a quick ratio of 1.15.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.11). Ashland had a positive return on equity of 7.14% and a negative net margin of 5.74%. The business had revenue of $479.00 million for the quarter, compared to analyst estimates of $514.79 million. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. As a group, research analysts forecast that Ashland will post 4.27 earnings per share for the current year.

Ashland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a $0.415 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.66 annualized dividend and a dividend yield of 3.08%. This is an increase from Ashland’s previous quarterly dividend of $0.41. Ashland’s dividend payout ratio is currently -69.17%.

Hedge Funds Weigh In On Ashland

Several institutional investors have recently added to or reduced their stakes in ASH. Farther Finance Advisors LLC grew its position in Ashland by 2,736.0% during the first quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company’s stock valued at $41,000 after buying an additional 684 shares during the period. UMB Bank n.a. boosted its position in Ashland by 212.4% during the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 480 shares during the period. Allworth Financial LP boosted its position in Ashland by 63.9% during the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 325 shares during the period. Parallel Advisors LLC boosted its position in Ashland by 285.7% during the first quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 677 shares during the period. Finally, Atala Financial Inc bought a new position in Ashland during the fourth quarter worth about $56,000. 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.