AQR Capital Management LLC cut its stake in shares of Ashland Global Holdings Inc (NYSE:ASH) by 75.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,268 shares of the basic materials company’s stock after selling 252,909 shares during the quarter. AQR Capital Management LLC owned 0.14% of Ashland Global worth $4,119,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ETRADE Capital Management LLC lifted its holdings in shares of Ashland Global by 1.5% during the first quarter. ETRADE Capital Management LLC now owns 18,407 shares of the basic materials company’s stock worth $922,000 after purchasing an additional 269 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Ashland Global by 0.9% during the 4th quarter. Mason Street Advisors LLC now owns 32,034 shares of the basic materials company’s stock worth $2,452,000 after acquiring an additional 295 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ashland Global by 4.2% during the 1st quarter. Victory Capital Management Inc. now owns 9,497 shares of the basic materials company’s stock worth $476,000 after acquiring an additional 381 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Ashland Global during the 4th quarter worth about $29,000. Finally, Leisure Capital Management boosted its stake in shares of Ashland Global by 4.2% during the 1st quarter. Leisure Capital Management now owns 10,597 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 424 shares in the last quarter. 92.49% of the stock is owned by hedge funds and other institutional investors.
Ashland Global stock opened at $66.52 on Monday. The business has a 50 day moving average price of $65.69 and a two-hundred day moving average price of $66.89. The company has a quick ratio of 1.06, a current ratio of 1.69 and a debt-to-equity ratio of 0.56. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of -50.39, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. Ashland Global Holdings Inc has a 12 month low of $38.88 and a 12 month high of $81.82.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. The firm had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $618.75 million. Ashland Global had a positive return on equity of 4.63% and a negative net margin of 3.05%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, analysts expect that Ashland Global Holdings Inc will post 2.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.275 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.10 annualized dividend and a yield of 1.65%. Ashland Global’s dividend payout ratio (DPR) is 44.00%.
Several research firms have recently issued reports on ASH. TheStreet upgraded Ashland Global from a “d+” rating to a “c-” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. upgraded Ashland Global from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $62.00 in a research note on Thursday, May 7th. BMO Capital Markets upgraded Ashland Global from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $87.00 to $75.00 in a research note on Monday, April 13th. Wells Fargo & Co increased their target price on Ashland Global from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, Deutsche Bank increased their target price on Ashland Global from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ashland Global presently has a consensus rating of “Buy” and an average price target of $77.00.
About Ashland Global
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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