Ashland (NYSE:ASH) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Ashland Inc. (NYSE:ASH)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.69 and traded as high as $62.46. Ashland shares last traded at $62.3290, with a volume of 719,748 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ASH shares. Evercore set a $62.00 price objective on Ashland in a report on Wednesday, February 18th. Wall Street Zen upgraded Ashland from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. JPMorgan Chase & Co. reduced their price target on Ashland from $77.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. UBS Group reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Ashland in a research note on Wednesday, February 4th. Finally, Wells Fargo & Company raised their price objective on shares of Ashland from $51.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $67.67.

Ashland Price Performance

The firm has a market capitalization of $2.85 billion, a P/E ratio of -4.13, a PEG ratio of 1.05 and a beta of 0.43. The company has a fifty day moving average of $61.78 and a 200 day moving average of $55.69. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.15 and a quick ratio of 1.61.

Ashland (NYSE:ASH) last issued its quarterly earnings results on Monday, February 2nd. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Ashland had a negative net margin of 38.26% and a positive return on equity of 7.58%. The firm had revenue of $386.00 million for the quarter, compared to the consensus estimate of $401.42 million. During the same quarter in the previous year, the company earned $0.28 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be issued a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, February 27th. Ashland’s dividend payout ratio (DPR) is presently -10.99%.

Institutional Investors Weigh In On Ashland

Several institutional investors and hedge funds have recently made changes to their positions in ASH. Rothschild Investment LLC increased its holdings in Ashland by 3,673.3% in the third quarter. Rothschild Investment LLC now owns 566 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 551 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Ashland by 59.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 249 shares in the last quarter. Danske Bank A S bought a new stake in shares of Ashland in the 3rd quarter valued at $38,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Ashland during the 3rd quarter valued at $53,000. Finally, State of Wyoming bought a new position in Ashland during the third quarter worth $57,000. Institutional investors own 93.95% of the company’s stock.

About Ashland

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.