Ashland (NYSE:ASH) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ashland (NYSE:ASH) from a neutral rating to an overweight rating in a report issued on Wednesday, MarketBeat.com reports. They currently have $71.00 price target on the basic materials company’s stock, up from their prior price target of $68.00.

A number of other brokerages have also commented on ASH. Wells Fargo & Company dropped their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Seaport Res Ptn downgraded Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. BMO Capital Markets boosted their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and an average target price of $85.40.

Ashland Trading Down 1.3 %

Shares of ASH opened at $58.99 on Wednesday. Ashland has a 1 year low of $54.86 and a 1 year high of $102.50. The company has a 50 day simple moving average of $62.54 and a two-hundred day simple moving average of $73.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The firm has a market cap of $2.78 billion, a P/E ratio of -89.38, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities analysts expect that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Activity

In other news, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ASH. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ashland by 10.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after buying an additional 317 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Ashland in the fourth quarter worth $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ashland by 15.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,841 shares of the basic materials company’s stock worth $9,922,000 after purchasing an additional 18,100 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Ashland by 25.9% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 4,753 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 977 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Ashland by 5.7% in the fourth quarter. Two Sigma Advisers LP now owns 20,500 shares of the basic materials company’s stock worth $1,465,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.