Prudential Financial Inc. trimmed its position in Ashland Global Holdings Inc (NYSE:ASH) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,612 shares of the basic materials company’s stock after selling 2,410 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Ashland Global worth $2,669,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ASH. Wells Fargo & Company MN boosted its stake in shares of Ashland Global by 80.5% in the 3rd quarter. Wells Fargo & Company MN now owns 203,372 shares of the basic materials company’s stock worth $17,055,000 after buying an additional 90,720 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Ashland Global by 71.1% in the 3rd quarter. SG Americas Securities LLC now owns 42,479 shares of the basic materials company’s stock worth $3,562,000 after buying an additional 17,653 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ashland Global by 46.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,416 shares of the basic materials company’s stock worth $11,022,000 after buying an additional 41,963 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Ashland Global by 93.1% in the 3rd quarter. Commonwealth Bank of Australia now owns 11,075 shares of the basic materials company’s stock worth $926,000 after buying an additional 5,341 shares during the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of Ashland Global in the 3rd quarter worth approximately $2,594,000. 92.46% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on ASH shares. JPMorgan Chase & Co. upgraded Ashland Global from a “neutral” rating to an “overweight” rating and set a $68.23 target price on the stock in a research note on Thursday, December 27th. Deutsche Bank cut their target price on Ashland Global from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, January 2nd. Credit Suisse Group restated a “buy” rating and issued a $90.00 target price on shares of Ashland Global in a research note on Monday, February 4th. Buckingham Research started coverage on Ashland Global in a research note on Monday, December 17th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded Ashland Global from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $89.80.
In other Ashland Global news, insider Osama M. Musa sold 2,156 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $78.87, for a total transaction of $170,043.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.
Ashland Global stock opened at $78.30 on Monday. Ashland Global Holdings Inc has a 12 month low of $64.81 and a 12 month high of $86.63. The company has a current ratio of 2.20, a quick ratio of 1.51 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4.93 billion, a P/E ratio of 21.87, a PEG ratio of 2.48 and a beta of 1.31.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. Ashland Global had a return on equity of 6.17% and a net margin of 2.01%. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $585.78 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. Ashland Global’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that Ashland Global Holdings Inc will post 3.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. Ashland Global’s payout ratio is 27.93%.
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Ashland Global Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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