Ashland Inc. (NYSE:ASH) Short Interest Update

by · The Cerbat Gem

Ashland Inc. (NYSE:ASH – Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 1,170,000 shares, a drop of 21.5% from the March 15th total of 1,490,000 shares. Based on an average daily volume of 772,300 shares, the short-interest ratio is currently 1.5 days. Approximately 2.5% of the shares of the stock are short sold.

Ashland Stock Performance

Shares of NYSE:ASH traded up $0.90 on Friday, reaching $50.45. 404,331 shares of the company’s stock were exchanged, compared to its average volume of 510,844. Ashland has a fifty-two week low of $45.21 and a fifty-two week high of $102.50. The business’s 50-day moving average is $57.20 and its two-hundred day moving average is $69.56. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -76.44, a PEG ratio of 1.14 and a beta of 0.70.

Ashland (NYSE:ASH – Get Free Report) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS 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 period in the prior year, the business earned $0.45 EPS. As a group, equities research analysts forecast that Ashland will post 4.27 EPS for the current year.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.21%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Transactions at Ashland

In other news, CEO Guillermo Novo bought 31,294 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $2,010,326.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Ashland

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASH. Wilmington Savings Fund Society FSB acquired a new position in shares of Ashland during the 3rd quarter valued at $38,000. Versant Capital Management Inc bought a new stake in Ashland in the fourth quarter worth about $33,000. UMB Bank n.a. boosted its position in shares of Ashland by 212.4% during the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 480 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Ashland by 2,736.0% in the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 684 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in Ashland during the fourth quarter worth approximately $56,000. 93.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ASH has been the topic of several recent analyst reports. Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $71.00 in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on shares of Ashland from $69.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Mizuho set a $60.00 price objective on shares of Ashland in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.20.

Read Our Latest Report on ASH

About Ashland

(Get Free Report)

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.

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