Ashland (NYSE:ASH) Reaches New 1-Year Low – Time to Sell?

Shares of Ashland Inc. (NYSE:ASH) hit a new 52-week low during trading on Thursday . The stock traded as low as $53.41 and last traded at $53.67, with a volume of 109496 shares trading hands. The stock had previously closed at $57.87.

Wall Street Analysts Forecast Growth

ASH has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $71.00 in a research note on Wednesday, March 26th. Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Ashland from $80.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets lifted their target price on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Ashland Trading Down 7.5 %

The company’s 50-day moving average is $60.91 and its 200-day moving average is $72.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -74.36, a P/E/G ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH) last announced its earnings results 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 quarter last year, the business earned $0.45 EPS. On average, research analysts predict that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 3.30%. Ashland’s dividend payout ratio (DPR) is currently -245.45%.

Insider Transactions at Ashland

In other news, CEO Guillermo Novo acquired 31,294 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ashland by 10.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after buying an additional 317 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Ashland during the 4th quarter worth $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ashland by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,841 shares of the basic materials company’s stock valued at $9,922,000 after acquiring an additional 18,100 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its stake in shares of Ashland by 25.9% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 4,753 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 977 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Ashland by 5.7% in the 4th quarter. Two Sigma Advisers LP now owns 20,500 shares of the basic materials company’s stock worth $1,465,000 after purchasing an additional 1,100 shares during the last quarter. 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.