Ashland (NYSE:ASH) Sets New 1-Year Low on Insider Selling

Shares of Ashland Inc. (NYSE:ASH) hit a new 52-week low during trading on Monday after an insider sold shares in the company. The company traded as low as $76.00 and last traded at $76.00, with a volume of 556 shares changing hands. The stock had previously closed at $76.96.

Specifically, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now directly owns 2,883 shares in the company, valued at approximately $224,585.70. The trade was a 23.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $89.00 in a report on Thursday, August 8th. UBS Group lowered their price target on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. BMO Capital Markets lowered their price target on shares of Ashland from $92.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Wells Fargo & Company lowered their price target on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.29.

Ashland Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The stock’s 50-day simple moving average is $84.66 and its 200-day simple moving average is $90.60. The firm has a market capitalization of $3.73 billion, a PE ratio of 22.81, a P/E/G ratio of 1.11 and a beta of 0.88.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The company had revenue of $522.00 million for the quarter, compared to analysts’ expectations of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, sell-side analysts expect that Ashland Inc. will post 4.82 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, November 29th. Ashland’s dividend payout ratio is presently 48.36%.

Institutional Trading of Ashland

Hedge funds and other institutional investors have recently modified their holdings of the business. Prospera Private Wealth LLC purchased a new stake in shares of Ashland in the 3rd quarter worth about $31,000. UMB Bank n.a. grew its position in shares of Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares during the period. Assetmark Inc. grew its position in shares of Ashland by 610.5% in the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares during the period. GAMMA Investing LLC grew its position in Ashland by 133.8% during the 2nd quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 372 shares during the last quarter. Finally, Quest Partners LLC grew its position in Ashland by 8,211.1% during the 2nd quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 739 shares during the last quarter. 93.95% of the stock is owned by hedge funds and other 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.