UBS Group Issues Pessimistic Forecast for Ashland (NYSE:ASH) Stock Price

Ashland (NYSE:ASH - Free Report) had its price objective lowered by UBS Group from $74.00 to $73.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company's stock.

A number of other research firms have also recently weighed in on ASH. Mizuho set a $60.00 price objective on Ashland in a research report on Tuesday, April 15th. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. dropped their price objective on shares of Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut shares of Ashland from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Ashland has an average rating of "Hold" and a consensus target price of $68.40.

Ashland Stock Performance

Shares of ASH stock traded down $1.15 during trading hours on Wednesday, hitting $53.33. The stock had a trading volume of 39,269 shares, compared to its average volume of 558,753. The firm has a market capitalization of $2.44 billion, a PE ratio of -22.21, a PEG ratio of 1.50 and a beta of 0.51. Ashland has a twelve month low of $45.21 and a twelve month high of $98.44. The stock's 50 day moving average is $50.87 and its 200 day moving average is $57.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.32 and a quick ratio of 1.15.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.11). The firm had revenue of $479.00 million during the quarter, compared to analyst estimates of $514.79 million. Ashland had a negative net margin of 5.74% and a positive return on equity of 7.14%. Ashland's revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, research analysts forecast that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.415 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.66 dividend on an annualized basis and a yield of 3.11%. This is an increase from Ashland's previous quarterly dividend of $0.41. Ashland's dividend payout ratio (DPR) is presently -69.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in Ashland by 226.4% in the first quarter. AQR Capital Management LLC now owns 899,061 shares of the basic materials company's stock valued at $53,009,000 after acquiring an additional 623,601 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Ashland by 33.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,291,157 shares of the basic materials company's stock worth $132,383,000 after purchasing an additional 569,740 shares during the period. Shapiro Capital Management LLC grew its stake in shares of Ashland by 172.5% during the 4th quarter. Shapiro Capital Management LLC now owns 670,785 shares of the basic materials company's stock worth $47,934,000 after purchasing an additional 424,595 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Ashland during the 4th quarter worth $28,943,000. Finally, 1832 Asset Management L.P. grew its stake in shares of Ashland by 48.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,228,525 shares of the basic materials company's stock worth $72,839,000 after purchasing an additional 402,286 shares during the period. Institutional investors and hedge funds 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.