Allworth Financial LP raised its holdings in shares of Ashland Inc. (NYSE:ASH – Get Rating) by 32.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 520 shares of the basic materials company's stock after buying an additional 128 shares during the period. Allworth Financial LP's holdings in Ashland were worth $54,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ASH. National Bank of Canada FI boosted its holdings in shares of Ashland by 245.3% during the first quarter. National Bank of Canada FI now owns 328 shares of the basic materials company's stock worth $32,000 after purchasing an additional 233 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Ashland during the first quarter worth about $35,000. Kenfarb & CO. purchased a new stake in shares of Ashland during the fourth quarter worth about $39,000. Huntington National Bank boosted its holdings in shares of Ashland by 35.8% during the first quarter. Huntington National Bank now owns 645 shares of the basic materials company's stock worth $63,000 after purchasing an additional 170 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Ashland by 23.5% during the first quarter. Covestor Ltd now owns 809 shares of the basic materials company's stock worth $80,000 after purchasing an additional 154 shares during the period. 93.26% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ASH. Wells Fargo & Company dropped their target price on shares of Ashland from $113.00 to $107.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Credit Suisse Group began coverage on shares of Ashland in a report on Monday, September 12th. They issued an "outperform" rating and a $120.00 price objective for the company. Mizuho raised their price objective on shares of Ashland from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, July 19th. UBS Group raised their price objective on shares of Ashland from $127.00 to $131.00 and gave the stock a "buy" rating in a report on Wednesday, July 27th. Finally, Stifel Nicolaus raised their price objective on shares of Ashland from $143.00 to $148.00 in a report on Friday, September 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $124.22.
Ashland Price Performance
Shares of NYSE ASH opened at $93.76 on Wednesday. Ashland Inc. has a fifty-two week low of $83.29 and a fifty-two week high of $112.91. The company has a 50 day simple moving average of $102.25 and a two-hundred day simple moving average of $101.48. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 5.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.20 and a current ratio of 3.30.
Ashland (NYSE:ASH – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The basic materials company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.01. The company had revenue of $644.00 million during the quarter, compared to the consensus estimate of $643.87 million. Ashland had a net margin of 38.83% and a return on equity of 10.33%. During the same quarter last year, the firm earned $1.22 earnings per share. Analysts expect that Ashland Inc. will post 5.66 EPS for the current fiscal year.
Ashland Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, August 31st. Ashland's dividend payout ratio (DPR) is currently 8.43%.
Ashland Company Profile
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Ashland Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents 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.
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