First Financial Bank Trust Division trimmed its position in Ashland Global Holdings Inc. (NYSE:ASH) by 5.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,399 shares of the basic materials company’s stock after selling 3,729 shares during the period. First Financial Bank Trust Division owned approximately 0.10% of Ashland Global worth $5,539,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ceredex Value Advisors LLC raised its holdings in Ashland Global by 296.3% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,348,743 shares of the basic materials company’s stock worth $106,821,000 after buying an additional 1,008,443 shares during the last quarter. Norges Bank bought a new stake in shares of Ashland Global during the fourth quarter worth about $48,908,000. Clearbridge Investments LLC bought a new stake in shares of Ashland Global during the fourth quarter worth about $45,782,000. Great West Life Assurance Co. Can raised its holdings in shares of Ashland Global by 835.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 276,301 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 246,774 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ashland Global during the 4th quarter valued at about $18,580,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.
ASH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on Ashland Global from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, February 8th. Monness Crespi & Hardt raised their price objective on Ashland Global from $88.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $103.00 target price on shares of Ashland Global in a research note on Monday, March 22nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $90.50.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Ashland Global had a negative net margin of 21.84% and a positive return on equity of 5.40%. The company had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $540.18 million. During the same quarter in the previous year, the firm posted $0.13 EPS. Ashland Global’s revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Ashland Global Holdings Inc. will post 3.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 26th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, February 25th. This represents a $1.10 annualized dividend and a dividend yield of 1.24%. Ashland Global’s payout ratio is 39.29%.
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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