Recent Analysts’ Ratings Updates for Ashland (ASH)

Ashland (NYSE: ASH) has recently received a number of price target changes and ratings updates:

• 11/20/2023 – Ashland was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/15/2023 – Ashland had its price target lowered by analysts at BMO Capital Markets from $84.00 to $75.00. They now have a “market perform” rating on the stock.
• 11/13/2023 – Ashland had its price target lowered by analysts at Stifel Nicolaus from $110.00 to $96.00. They now have a “buy” rating on the stock.
• 11/9/2023 – Ashland had its price target lowered by analysts at UBS Group AG from $110.00 to $103.00. They now have a “buy” rating on the stock.
• 10/30/2023 – Ashland had its price target lowered by analysts at Stifel Nicolaus from $115.00 to $110.00. They now have a “buy” rating on the stock.
• 10/10/2023 – Ashland had its price target lowered by analysts at UBS Group AG from $116.00 to $110.00. They now have a “buy” rating on the stock.
• 10/6/2023 – Ashland was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
• 10/5/2023 – Ashland is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 10/5/2023 – Ashland had its price target lowered by analysts at Mizuho from $114.00 to $106.00. They now have a “buy” rating on the stock.

Ashland Stock Performance

ASH traded down $0.01 during trading hours on Tuesday, hitting $78.31. 365,393 shares of the stock were exchanged, compared to its average volume of 472,993. The stock has a 50-day simple moving average of $78.26 and a 200-day simple moving average of $84.29. Ashland Inc. has a 12 month low of $70.82 and a 12 month high of $114.36. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 23.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.30 and a quick ratio of 1.93.

Ashland (NYSE:ASH) last posted its earnings results on Thursday, November 9th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $528.57 million. Ashland had a net margin of 8.07% and a return on equity of 6.78%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Analysts anticipate that Ashland Inc. will post 4.16 earnings per share for the current year.

Ashland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 30th. Ashland’s dividend payout ratio is currently 47.09%.

Insider Activity at Ashland

In related news, CFO J Kevin Willis sold 7,866 shares of Ashland stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $86.54, for a total transaction of $680,723.64. Following the sale, the chief financial officer now directly owns 11,583 shares in the company, valued at $1,002,392.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Comerica Bank purchased a new position in Ashland in the 3rd quarter worth about $1,748,000. Morgan Stanley increased its stake in Ashland by 10.9% in the 3rd quarter. Morgan Stanley now owns 375,498 shares of the basic materials company’s stock worth $30,671,000 after purchasing an additional 36,766 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Ashland in the 3rd quarter worth about $208,000. The Manufacturers Life Insurance Company increased its stake in Ashland by 21.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 44,340 shares of the basic materials company’s stock worth $3,622,000 after purchasing an additional 7,715 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Ashland by 1.5% in the 3rd quarter. Royal Bank of Canada now owns 28,278 shares of the basic materials company’s stock worth $2,310,000 after purchasing an additional 407 shares in the last quarter. 90.08% of the stock is owned by institutional investors and hedge funds.

Ashland Inc provides additives and specialty ingredients worldwide. 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.