Ashland Inc. (NYSE:ASH) Receives $73.90 Average PT from Brokerages

Shares of Ashland Inc. (NYSE:ASH – Get Free Report) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $73.90.

A number of brokerages have issued reports on ASH. Wolfe Research restated an “outperform” rating on shares of Ashland in a research note on Monday, July 27th. Mizuho boosted their price target on shares of Ashland from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Ashland from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of Ashland from $58.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Finally, BMO Capital Markets lifted their price objective on shares of Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th.

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Institutional Investors Weigh In On Ashland

A number of hedge funds have recently modified their holdings of ASH. BlackRock Inc. bought a new position in Ashland during the second quarter valued at $376,376,000. California State Teachers Retirement System raised its stake in shares of Ashland by 6,301.5% in the second quarter. California State Teachers Retirement System now owns 3,527,619 shares of the basic materials company’s stock valued at $232,435,000 after buying an additional 3,472,513 shares during the period. AQR Capital Management LLC lifted its position in shares of Ashland by 284.3% during the 2nd quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company’s stock valued at $172,318,000 after buying an additional 2,555,585 shares during the last quarter. Standard Investments LLC grew its stake in shares of Ashland by 17.2% during the 4th quarter. Standard Investments LLC now owns 2,625,000 shares of the basic materials company’s stock worth $154,009,000 after acquiring an additional 385,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ashland by 12.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,496,021 shares of the basic materials company’s stock worth $138,793,000 after acquiring an additional 267,741 shares during the period. Institutional investors own 93.95% of the company’s stock.

Ashland Stock Performance

ASH stock opened at $70.94 on Tuesday. The firm has a market cap of $3.25 billion, a PE ratio of 62.23, a P/E/G ratio of 2.13 and a beta of 0.39. The company has a quick ratio of 1.89, a current ratio of 3.05 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average of $71.15 and a 200-day moving average of $62.43. Ashland has a 12-month low of $46.29 and a 12-month high of $78.25.

Ashland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.4%. Ashland’s dividend payout ratio (DPR) is presently 147.37%.

Ashland News Summary

Here are the key news stories impacting Ashland this week:

• Neutral Sentiment: Coverage of an Ashland University football game against Grand Valley State is unrelated to Ashland Inc.’s chemicals and specialty-materials operations. Where to watch Ashland vs. Grand Valley State football
• Neutral Sentiment: Articles about Ashland, Oregon’s dog-park renaming, 9/11 commemorations, memorial artwork, a theater festival, and a playwright walking tour are local-interest stories with no apparent connection to Ashland Inc. Ashland renames dog park Ashland remembers 9/11 Ashland New Plays Festival Ashland walking tour
• Neutral Sentiment: A proposed change to how Ashland, Oregon, controls utility fees and the city’s search for a new town manager are municipal matters and should not affect Ashland Inc.’s outlook. Ashland utility bill fees Ashland searches for next town manager

Ashland Company Profile

(Get Free Report)

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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