Ashland (NYSE:ASH) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Ashland Inc. (NYSE:ASH)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $64.55 and traded as high as $71.53. Ashland shares last traded at $70.7850, with a volume of 459,222 shares.

Ashland News Roundup

Here are the key news stories impacting Ashland this week:

• Neutral Sentiment: Residents in Ashland, Pennsylvania, continue to report pink water as officials consider a potential rate increase. The local utility issue is unrelated to Ashland Inc. Pink water issues persist in Ashland amid possible rate increase
• Neutral Sentiment: Several Ashland, Oregon, stories cover a proposed winter shelter, continuing water issues, transportation-safety improvements, a possible statue restoration, and a planned ice rink. None involves Ashland Inc. Public urges city of Ashland to open facility as winter shelter Ashland continues to deal with water issues Ashland’s Abraham Lincoln statue may be restored Ashland launches safety-improvement plan Ashland announces ice rink project
• Neutral Sentiment: Other reports concern a fatal vehicle crash, university fundraising, local sports, concerts, youth-sports funding, and school-supply redistribution. These community stories have no identifiable connection to Ashland Inc.’s operations or financial results. Ashland man killed in three-vehicle crash Ashland University dedicates new plaza Ashland volleyball finishes undefeated Army Band to perform in Ashland Grant boosts youth sports Ashland Schools Foundation supply initiative

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ASH. Wolfe Research restated an “outperform” rating on shares of Ashland in a research note on Monday, July 27th. Morgan Stanley increased their price target on Ashland from $58.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. BMO Capital Markets lifted their price target on Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Wells Fargo & Company lifted their price target on Ashland from $50.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised Ashland from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.60.

Ashland Price Performance

The business’s fifty day moving average is $71.80 and its 200 day moving average is $64.68. The company has a market cap of $3.26 billion, a P/E ratio of 62.50, a PEG ratio of 1.80 and a beta of 0.40. The company has a current ratio of 3.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.73.

Ashland Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Michigan Retirement System grew its stake in shares of Ashland by 1.8% in the first quarter. State of Michigan Retirement System now owns 11,039 shares of the basic materials company’s stock worth $614,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC lifted its position in Ashland by 20.0% during the third quarter. GAMMA Investing LLC now owns 1,206 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 201 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Ashland by 3.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 9,388 shares of the basic materials company’s stock valued at $522,000 after purchasing an additional 300 shares during the period. Kestra Advisory Services LLC lifted its position in Ashland by 7.7% during the first quarter. Kestra Advisory Services LLC now owns 4,293 shares of the basic materials company’s stock valued at $239,000 after purchasing an additional 306 shares during the period. Finally, Kera Capital Partners Inc. boosted its holdings in Ashland by 6.1% in the first quarter. Kera Capital Partners Inc. now owns 8,029 shares of the basic materials company’s stock worth $446,000 after purchasing an additional 463 shares during the last quarter. Institutional investors 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.