Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 57.0% during the 4th quarter, Holdings Channel reports. The firm owned 3,364 shares of the basic materials company’s stock after buying an additional 1,222 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ashland Global were worth $240,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. Wedge Capital Management L L P NC grew its holdings in shares of Ashland Global by 11.8% during the third quarter. Wedge Capital Management L L P NC now owns 1,748,825 shares of the basic materials company’s stock worth $114,356,000 after purchasing an additional 185,176 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Ashland Global by 30.7% during the third quarter. Schroder Investment Management Group now owns 1,463,395 shares of the basic materials company’s stock worth $95,999,000 after purchasing an additional 344,160 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Ashland Global by 1.3% during the third quarter. Neuberger Berman Group LLC now owns 1,354,447 shares of the basic materials company’s stock worth $88,567,000 after purchasing an additional 17,839 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ashland Global by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,157,066 shares of the basic materials company’s stock worth $75,662,000 after purchasing an additional 51,277 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Ashland Global by 32.6% during the third quarter. Ameriprise Financial Inc. now owns 1,117,605 shares of the basic materials company’s stock worth $73,078,000 after purchasing an additional 274,617 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors.
In other Ashland Global news, insider William J. Heitman sold 4,495 shares of Ashland Global stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $70.31, for a total value of $316,043.45. Following the sale, the insider now 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 available through the SEC website. Also, SVP Anne T. Schumann sold 8,507 shares of Ashland Global stock in a transaction that occurred on Tuesday, January 16th. The shares were 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. Insiders sold a total of 32,887 shares of company stock worth $2,376,874 in the last ninety days. 1.14% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on ASH shares. Zacks Investment Research raised Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, October 24th. UBS Group raised 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 raised 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 raised their price target 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 target on shares of Ashland Global in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $83.00.
Ashland Global Holdings Inc. (ASH) opened at $70.98 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.29 and a debt-to-equity ratio of 0.76. Ashland Global Holdings Inc. has a twelve month low of $59.42 and a twelve month high of $77.16. The stock has a market capitalization of $4,495.41, a PE ratio of -1,183.00, a P/E/G ratio of 2.26 and a beta of 1.13.
Ashland Global (NYSE:ASH) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. The company had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $842.05 million. During the same period in the prior year, the business earned $1.16 EPS. analysts expect that Ashland Global Holdings Inc. will post 3.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, February 28th. Ashland Global’s dividend payout ratio is presently -1,500.00%.
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Ashland Global Company Profile
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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