Ashland Reaches New 52-Week High (ASH)

NEW YORK ( TheStreet) -- Ashland (NYSE: ASH) hit a new 52-week high Friday as it is currently trading at $72.43, above its previous 52-week high of $72.34 with 635,909 shares traded as of 1:30 p.m. ET. Average volume has been 805,100 shares over the past 30 days.

Ashland has a market cap of $5.6 billion and is part of the basic materials sector and chemicals industry. Shares are up 24.7% year to date as of the close of trading on Thursday.

Ashland Inc. operates as a specialty chemicals company in the United States and internationally. It operates through four segments: Specialty Ingredients, Water Technologies, Performance Materials, and Consumer Markets. The company has a P/E ratio of 142.6, above the average chemicals industry P/E ratio of 30.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Ashland as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Ashland Ratings Report.

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