Ashland CEO Sells $17,403,295 in Stock (ASH)
Ashland (NYSE:ASH) CEO James J. /Ky Obrien unloaded 160,933 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $108.14, for a total value of $17,403,294.62. Following the sale, the chief executive officer now directly owns 13,640 shares of the company’s stock, valued at approximately $1,475,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ashland (NYSE:ASH) traded up 0.95% on Wednesday, hitting $109.37. 555,377 shares of the company’s stock traded hands. Ashland has a 1-year low of $84.17 and a 1-year high of $110.02. The stock’s 50-day moving average is $105.8 and its 200-day moving average is $99.34. The company has a market cap of $8.523 billion and a P/E ratio of 14.36.
Ashland (NYSE:ASH) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.59 by $0.06. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.98 billion. On average, analysts predict that Ashland will post $6.09 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on ASH shares. Analysts at ISI Group upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research note on Monday, June 23rd. They now have a $136.00 price target on the stock. Separately, analysts at KeyCorp upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research note on Monday, June 23rd. They now have a $136.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Ashland from $109.00 to $118.00 in a research note on Tuesday, May 27th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $115.03.
Ashland Inc (NYSE:ASH) is a global specialty chemical company that provides products, services and solutions throughout a variety of industries.
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