GAM Holding AG purchased a new stake in Ashland Global Holdings Inc (NYSE:ASH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,245 shares of the basic materials company’s stock, valued at approximately $332,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Ashland Global by 3.8% in the 1st quarter. BlackRock Inc. now owns 5,811,293 shares of the basic materials company’s stock valued at $454,037,000 after purchasing an additional 213,525 shares during the period. Vanguard Group Inc boosted its stake in Ashland Global by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock valued at $480,582,000 after purchasing an additional 152,555 shares during the period. Wedge Capital Management L L P NC boosted its stake in Ashland Global by 13.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,508,861 shares of the basic materials company’s stock valued at $117,887,000 after purchasing an additional 177,909 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ashland Global by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,319,418 shares of the basic materials company’s stock valued at $103,093,000 after purchasing an additional 27,977 shares during the period. Finally, Naya Capital Management UK Ltd. boosted its stake in Ashland Global by 62.9% in the 4th quarter. Naya Capital Management UK Ltd. now owns 1,097,953 shares of the basic materials company’s stock valued at $77,911,000 after purchasing an additional 424,139 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.
NYSE:ASH opened at $78.25 on Friday. The firm has a market cap of $5.02 billion, a PE ratio of 26.09, a P/E/G ratio of 2.69 and a beta of 1.27. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.68. Ashland Global Holdings Inc has a fifty-two week low of $64.93 and a fifty-two week high of $86.63.
Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $667.00 million during the quarter, compared to the consensus estimate of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The company’s revenue was down 31.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. On average, research analysts expect that Ashland Global Holdings Inc will post 2.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, May 31st. Ashland Global’s dividend payout ratio is presently 30.73%.
In related news, insider Peter Ganz sold 1,562 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $74.32, for a total transaction of $116,087.84. Following the completion of the sale, the insider now directly owns 40,150 shares in the company, valued at approximately $2,983,948. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider William J. Heitman sold 7,203 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.49, for a total value of $572,566.47. Following the sale, the insider now owns 6,303 shares of the company’s stock, valued at $501,025.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,065 shares of company stock valued at $1,189,252. Corporate insiders own 1.14% of the company’s stock.
A number of research firms have recently weighed in on ASH. JPMorgan Chase & Co. downgraded Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 target price for the company. in a research report on Friday. They noted that the move was a valuation call. TheStreet downgraded Ashland Global from a “b” rating to a “c” rating in a research report on Monday, June 10th. ValuEngine upgraded Ashland Global from a “hold” rating to a “buy” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Ashland Global presently has an average rating of “Buy” and an average price target of $90.88.
ILLEGAL ACTIVITY NOTICE: “4,245 Shares in Ashland Global Holdings Inc (NYSE:ASH) Acquired by GAM Holding AG” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.dispatchtribunal.com/2019/06/15/4245-shares-in-ashland-global-holdings-inc-nyseash-acquired-by-gam-holding-ag.html.
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.
Featured Story: Cost of Debt
Want to see what other hedge funds are holding ASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ashland Global Holdings Inc (NYSE:ASH).
Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.