Shares of Ashland Inc. (NYSE:ASH – Get Free Report) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $73.60.
Several equities research analysts have weighed in on ASH shares. UBS Group lowered their target price on shares of Ashland from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley upped their price target on Ashland from $58.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Ashland from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Weiss Ratings upgraded Ashland from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Finally, Zacks Research upgraded Ashland from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th.
Check Out Our Latest Research Report on ASH
Ashland Stock Performance
Ashland Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 1st. Ashland’s dividend payout ratio is presently 147.37%.
Institutional Investors Weigh In On Ashland
A number of institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Ashland in the second quarter worth $35,000. Bullseye Investment Management LLC acquired a new position in Ashland during the second quarter valued at $38,000. Versant Capital Management Inc boosted its holdings in Ashland by 989.6% in the third quarter. Versant Capital Management Inc now owns 730 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 663 shares during the last quarter. GAMMA Investing LLC grew its position in Ashland by 38.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 277 shares during the period. Finally, Nykredit A S purchased a new position in shares of Ashland during the 2nd quarter valued at about $85,000. Institutional investors and hedge funds 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 functional ingredients, additives and other products used in a range of consumer and industrial applications. Its products are designed to improve the performance, appearance, stability and processing characteristics of materials and finished goods.
The company serves markets including pharmaceuticals, personal care, coatings, construction, food and beverage, specialty chemicals and other industrial sectors.
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