Ashland (NYSE:ASH) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Ashland shares moved above their 200-day moving average, reaching $71.55 before last trading at approximately $70.47, compared with a 200-day average of $62.58.
• Analysts maintain a generally positive view, with seven Buy ratings and five Holds. The consensus rating is “Moderate Buy,” with an average price target of $73.90; recent targets include UBS at $83 and Deutsche Bank at $85.
• Ashland paid a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 2.4% yield. Institutional investors own approximately 93.95% of the company’s stock.

Ashland Inc. (NYSE:ASH - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $62.58 and traded as high as $71.55. Ashland shares last traded at $70.4710, with a volume of 624,989 shares.

Analysts Set New Price Targets

ASH has been the topic of a number of recent analyst reports. Wolfe Research reaffirmed an "outperform" rating on shares of Ashland in a research note on Monday, July 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $85.00 target price on shares of Ashland in a report on Friday, July 31st. Zacks Research raised Ashland from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. Wells Fargo & Company upped their price target on Ashland from $50.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Finally, UBS Group raised their price objective on Ashland from $75.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $73.90.

Ashland Stock Performance

The stock has a fifty day simple moving average of $71.43 and a two-hundred day simple moving average of $62.58. The stock has a market cap of $3.23 billion, a PE ratio of 61.82, a PEG ratio of 2.11 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05.

Ashland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.42 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.4%. Ashland's dividend payout ratio (DPR) is currently 147.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in Ashland during the 2nd quarter worth approximately $35,000. Bullseye Investment Management LLC purchased a new position in shares of Ashland during the 2nd quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake in shares of Ashland by 38.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company's stock valued at $66,000 after buying an additional 277 shares during the last quarter. Nykredit A S acquired a new stake in shares of Ashland during the second quarter worth approximately $85,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Ashland in the second quarter worth $94,000. Hedge funds and other institutional investors own 93.95% of the company's stock.

Ashland Company Profile

Ashland Inc NYSE: ASH is a global specialty materials company that develops and manufactures additives, ingredients and performance solutions for a range of consumer and industrial applications. Its products are designed to improve the performance, stability, texture and functionality of products made by customers in industries such as pharmaceuticals, personal care, coatings, construction, adhesives and specialty chemicals.

The company's portfolio includes cellulose-based and synthetic polymers, vinyl pyrrolidone-based products, specialty additives, pharmaceutical excipients, personal care ingredients and water-based technologies.

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