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

Shares of Ashland Inc. (NYSE:ASH) have received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $73.90.

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Ashland from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $85.00 target price on shares of Ashland in a research note on Friday, July 31st. UBS Group boosted their price objective on shares of Ashland from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of Ashland from $50.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st.

Ashland Stock Down 1.5%

NYSE:ASH opened at $70.74 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05. The firm has a market cap of $3.24 billion, a P/E ratio of 62.05, a P/E/G ratio of 2.15 and a beta of 0.39. Ashland has a fifty-two week low of $46.29 and a fifty-two week high of $78.25. The firm has a 50-day simple moving average of $71.08 and a two-hundred day simple moving average of $62.37.

Ashland Dividend Announcement

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

Institutional Trading of Ashland

Several large investors have recently modified their holdings of ASH. Geneos Wealth Management Inc. boosted its position in Ashland by 59.0% in the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 249 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Ashland during the 2nd quarter valued at about $35,000. Danske Bank A S purchased a new stake in shares of Ashland during the 3rd quarter valued at about $38,000. GAMMA Investing LLC increased its position 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 purchasing an additional 277 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Ashland by 398.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,460 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 1,167 shares during the period. Institutional investors own 93.95% of the company’s stock.

About Ashland

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.