11 Most Expensive Stocks Insiders Are Buying Recently

6. Ashland Inc. (NYSE:ASH)

Average price per share: $64.12

Market capitalization: $3.13 billion

The six most expensive stock insiders have been purchasing lately is a global specialty chemicals company, Ashland. The Wilmington, Delaware-based company has a workforce of 7,000 professionals, servicing a wide range of consumer and industrial markets in more than 100 countries.

Ashland operates in four segments – Life Sciences, Personal Care, Specialty Additives, and Intermediates. The company’s Life Sciences sector generates the highest revenue.

On January 31, two insiders, including the company’s CEO, bought a total of $2.22 million worth of Ashland shares at an average price of $64.12 per share. Out of the total amount, Ashland’s CEO, Guillermo Novo, acquired 31,294 shares, worth $2.01 million.

Since the beginning of the year, Ashland’s shares dropped 7.46%, now trading at $66.13 per share. Over the past 12 months, the stock declined 28.26%.

For the first quarter of fiscal 2024, the company reported sales of $405 million, down 14% from the prior year quarter. Net loss amounted to $165 million, compared to net income of $26 million in the same period of 2023. During the quarter, the company signed a definitive agreement to sell its Avoca business.

According to the analysis of seven analysts, Ashland stock is “Buy.” The analysts also set a 12-month price target of $93.5, writes StockAnalysis.