Investors Sell Shares of Ashland Global (ASH) on Strength Following Insider Selling

Investors sold shares of Ashland Global Holdings Inc. (NYSE:ASH) on strength during trading on Friday following insider selling activity. $64.08 million flowed into the stock on the tick-up and $69.81 million flowed out of the stock on the tick-down, for a money net flow of $5.73 million out of the stock. Of all equities tracked, Ashland Global had the 0th highest net out-flow for the day. Ashland Global traded up $3.28 for the day and closed at $73.87Specifically, insider William J. Heitman sold 4,495 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $70.31, for a total transaction of $316,043.45. Following the completion of the sale, the insider now directly owns 15,152 shares of the company’s stock, valued at approximately $1,065,337.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anne T. Schumann sold 8,507 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $73.46, for a total value of $624,924.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,077 shares of company stock worth $2,949,366. 1.14% of the stock is owned by company insiders.

ASH has been the subject of a number of recent research reports. Zacks Investment Research raised Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, October 24th. UBS Group boosted their price objective on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Deutsche Bank boosted their price objective on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Credit Suisse Group boosted their price objective on Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, November 8th. Finally, SunTrust Banks reissued a “buy” rating and set a $74.00 price objective on shares of Ashland Global in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Ashland Global currently has a consensus rating of “Hold” and an average target price of $83.00.

The company has a market cap of $4,390.00, a price-to-earnings ratio of -97.20, a PEG ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.96.

Ashland Global (NYSE:ASH) last released its earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $842.05 million. Ashland Global had a negative net margin of 0.08% and a positive return on equity of 7.14%. During the same period in the prior year, the company earned $1.16 earnings per share. sell-side analysts anticipate that Ashland Global Holdings Inc. will post 3.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, February 28th. Ashland Global’s dividend payout ratio is presently -118.42%.

Hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its holdings in shares of Ashland Global by 600.3% in the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 1,999 shares in the last quarter. Sawyer & Company Inc bought a new position in shares of Ashland Global in the fourth quarter valued at approximately $157,000. Commonwealth Equity Services Inc bought a new position in shares of Ashland Global in the third quarter valued at approximately $234,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ashland Global by 57.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the basic materials company’s stock valued at $240,000 after acquiring an additional 1,222 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Ashland Global in the fourth quarter valued at approximately $263,000. 91.80% of the stock is owned by institutional investors.

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About Ashland Global

Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.

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