Ashland (NYSE:ASH) Price Target Lowered to $73.00 at UBS Group

Ashland (NYSE:ASH - Free Report) had its price objective cut by UBS Group from $74.00 to $73.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the basic materials company's stock.

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

Ashland Price Performance

Shares of ASH traded up $0.50 on Wednesday, hitting $54.47. The company's stock had a trading volume of 442,978 shares, compared to its average volume of 559,156. The company has a market capitalization of $2.49 billion, a PE ratio of -22.70, a PEG ratio of 1.50 and a beta of 0.51. 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 has a fifty-two week low of $45.21 and a fifty-two week high of $98.44. The company has a 50 day moving average price of $50.76 and a 200 day moving average price of $57.75.

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 company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $514.79 million. Ashland had a positive return on equity of 7.14% and a negative net margin of 5.74%. The business's revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. On average, research analysts anticipate that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a $0.415 dividend. This is a boost from Ashland's previous quarterly dividend of $0.41. This represents a $1.66 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, May 30th. Ashland's dividend payout ratio is currently -69.17%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASH. Farther Finance Advisors LLC raised its holdings in Ashland by 2,736.0% in the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 684 shares during the period. UMB Bank n.a. increased its holdings in shares of Ashland by 212.4% during the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after purchasing an additional 480 shares during the period. Allworth Financial LP increased its holdings in shares of Ashland by 63.9% during the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after purchasing an additional 325 shares during the period. Parallel Advisors LLC increased its holdings in shares of Ashland by 285.7% during the first quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after purchasing an additional 677 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Ashland during the fourth quarter worth approximately $56,000. 93.95% of the stock is owned by institutional investors.

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.