Ashland (NYSE:ASH) Shares Gap Up – Should You Buy?

Ashland Inc. (NYSE:ASH)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $56.93, but opened at $59.01. Ashland shares last traded at $60.27, with a volume of 142,636 shares trading hands.

Wall Street Analyst Weigh In

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

Ashland Stock Down 0.0 %

The business has a 50 day moving average of $62.79 and a two-hundred day moving average of $73.89. The stock has a market capitalization of $2.82 billion, a PE ratio of -90.44, a PEG ratio of 1.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52.

Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the previous year, the business earned $0.45 EPS. Analysts predict that Ashland Inc. will post 4.27 EPS for the current year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, February 28th. Ashland’s payout ratio is presently -245.45%.

Insider Buying and Selling

In related news, CEO Guillermo Novo acquired 31,294 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.02% of the stock is owned by company insiders.

Institutional Trading of Ashland

Large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in Ashland by 105.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock worth $8,513,000 after buying an additional 61,058 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Ashland in the third quarter valued at $3,134,000. Bank of New York Mellon Corp grew its position in Ashland by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company’s stock worth $36,964,000 after purchasing an additional 7,709 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ashland by 138.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock valued at $10,501,000 after buying an additional 70,145 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Ashland by 66.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock valued at $14,752,000 after buying an additional 67,980 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.