Ashland (NYSE:ASH) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Ashland (NYSE:ASH – Get Rating) from a buy rating to a hold rating in a research note released on Monday.

ASH has been the subject of several other research reports. Mizuho increased their price objective on shares of Ashland from $136.00 to $141.00 and gave the stock a buy rating in a research report on Thursday, January 12th. Wells Fargo & Company lifted their price objective on shares of Ashland from $104.00 to $118.00 and gave the company an equal weight rating in a report on Wednesday, November 9th. UBS Group boosted their price target on shares of Ashland from $131.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday, January 11th. Credit Suisse Group increased their price target on Ashland from $120.00 to $125.00 and gave the company an outperform rating in a research report on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ashland from $120.00 to $125.00 in a research report on Wednesday, November 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $130.29.

Ashland Price Performance

Shares of ASH stock opened at $109.41 on Monday. The firm’s 50 day moving average price is $109.69 and its two-hundred day moving average price is $104.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.06 and a current ratio of 3.20. The stock has a market cap of $5.92 billion, a PE ratio of 6.75 and a beta of 0.99. Ashland has a 52-week low of $83.29 and a 52-week high of $114.36.

Ashland (NYSE:ASH – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The firm had revenue of $631.00 million during the quarter, compared to analysts’ expectations of $636.10 million. Ashland had a net margin of 38.77% and a return on equity of 10.17%. As a group, analysts forecast that Ashland will post 6.14 EPS for the current year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.22%. Ashland’s dividend payout ratio is currently 8.27%.

Institutional Trading of Ashland

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of Ashland by 9.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,668 shares of the basic materials company’s stock worth $361,000 after buying an additional 326 shares during the period. American Century Companies Inc. lifted its position in Ashland by 17.4% in the 1st quarter. American Century Companies Inc. now owns 6,917 shares of the basic materials company’s stock valued at $681,000 after acquiring an additional 1,025 shares in the last quarter. HighTower Advisors LLC increased its holdings in Ashland by 4.2% during the 1st quarter. HighTower Advisors LLC now owns 5,523 shares of the basic materials company’s stock worth $543,000 after purchasing an additional 221 shares in the last quarter. Citigroup Inc. boosted its position in shares of Ashland by 3.2% during the first quarter. Citigroup Inc. now owns 8,142 shares of the basic materials company’s stock valued at $801,000 after buying an additional 249 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Ashland by 25.0% in the 1st quarter. MetLife Investment Management LLC now owns 34,207 shares of the basic materials company’s stock valued at $3,366,000 after buying an additional 6,835 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

About Ashland

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Ashland, Inc engages in the provision of architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care, Special Additives, and Intermediates. The company was founded in 1924 and is headquartered in Wilmington, DE.