Ashland Inc (ASH) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 28, 2016.
On the company’s financial health, Ashland Inc reported $1.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.74. The company had revenue of $1247.00 million for the quarter, compared to analysts expectations of $1251.60 million. The company’s revenue was down -7.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.03 EPS.
Ashland Inc closed down -0.88 points or -0.77% at $112.68 with 7,87,227 shares getting traded on Thursday. Post opening the session at $111.97, the shares hit an intraday low of $111.97 and an intraday high of $113.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Investors should note that on Jul 20, 2016, Ashland Inc announced a cash dividend of $0.3900. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 15, 2016.
In a different news, on Jul 19, 2016, Anne T. Schumann (Vice President) sold 496 shares at $121.61 per share price. According to the SEC, on May 6, 2016, J Kevin Willis (Chief Financial Officer) sold 1,183 shares at $110.99 per share price. On Apr 4, 2016, Peter Ganz (Senior Vice President) sold 3,000 shares at $109.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Ashland Inc. (Ashland) is a specialty chemical company that provides products services and solutions to industries. The Companys segments are: Ashland Specialty Ingredients offers products technologies and resources in key markets including personal and home care pharmaceutical food and beverage coatings construction energy and other industries; Ashland Water Technologies is a supplier of specialty chemicals and services to the pulp paper mining food and beverage power generation refining chemical processing general manufacturing and municipal markets. Ashland Performance Materials helps customers to create substitutes for traditional materials through higher performing cost-efficient resin and adhesive technologies that improve the manufacturing fabrication and design process and Ashland Consumer Markets delivers premium-branded automotive commercial and industrial lubricants automotive chemicals and car-care products.