Ashland Inc. (NYSE:ASH) Short Interest Up 10.9% in December

Ashland Inc. (NYSE:ASH) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,220,000 shares, a growth of 10.9% from the December 15th total of 1,100,000 shares. Based on an average trading volume of 422,000 shares, the short-interest ratio is currently 2.9 days. Currently, 2.6% of the shares of the stock are short sold.

Ashland Trading Up 1.1 %

Shares of NYSE ASH traded up $0.79 during trading hours on Monday, reaching $71.54. The stock had a trading volume of 342,657 shares, compared to its average volume of 407,097. The business’s fifty day moving average price is $74.23 and its two-hundred day moving average price is $83.29. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.11 and a beta of 0.87. Ashland has a 52-week low of $68.14 and a 52-week high of $102.50. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The firm had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. During the same period in the previous year, the company posted $0.41 EPS. Ashland’s quarterly revenue was up .8% compared to the same quarter last year. Analysts expect that Ashland will post 4.29 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a $0.405 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 2.26%. Ashland’s payout ratio is presently 48.36%.

Wall Street Analyst Weigh In

ASH has been the topic of several recent analyst reports. StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. BMO Capital Markets increased their price objective 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. Finally, Wells Fargo & Company dropped their target price on Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Insider Transactions at Ashland

In related news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Ashland

A number of hedge funds and other institutional investors have recently modified their holdings of ASH. Massachusetts Financial Services Co. MA boosted its position in Ashland by 12.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company’s stock valued at $226,000,000 after purchasing an additional 284,215 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Ashland by 6.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,737,738 shares of the basic materials company’s stock valued at $151,131,000 after acquiring an additional 103,517 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Ashland by 6,127.2% in the 3rd quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company’s stock valued at $76,574,000 after purchasing an additional 866,320 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ashland by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 827,642 shares of the basic materials company’s stock worth $72,000,000 after purchasing an additional 2,316 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in Ashland by 2.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 671,948 shares of the basic materials company’s stock worth $63,492,000 after purchasing an additional 14,938 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.