Guillermo Novo Acquires 31,294 Shares of Ashland Inc. (NYSE:ASH) Stock

Ashland Inc. (NYSE:ASH) CEO Guillermo Novo bought 31,294 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the acquisition, the chief executive officer now owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ashland Price Performance

Shares of NYSE ASH opened at $64.56 on Wednesday. Ashland Inc. has a fifty-two week low of $60.60 and a fifty-two week high of $102.50. The company has a 50 day simple moving average of $71.93 and a two-hundred day simple moving average of $81.07. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -97.82, a P/E/G ratio of 1.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52.

Ashland (NYSE:ASH) last announced its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted $0.45 EPS. Analysts expect that Ashland Inc. will post 4.27 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, February 28th. Ashland’s dividend payout ratio (DPR) is currently -245.45%.

Institutional Investors Weigh In On Ashland

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Ashland by 6,127.2% in the third quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock worth $76,574,000 after purchasing an additional 866,320 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Ashland by 12.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock worth $226,000,000 after purchasing an additional 284,215 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Ashland by 2,060.5% in the fourth quarter. SG Americas Securities LLC now owns 179,151 shares of the basic materials company’s stock worth $12,802,000 after purchasing an additional 170,859 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ashland by 703.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after purchasing an additional 161,812 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Ashland by 6.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock worth $151,131,000 after purchasing an additional 103,517 shares during the last quarter. Institutional investors own 93.95% of the company’s stock.

Wall Street Analysts Forecast Growth

ASH has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. UBS Group decreased their price target on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets increased their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.57.

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.