Cerebellum GP LLC Increases Stake in Ashland Global Holdings Inc (NYSE:ASH)

Cerebellum GP LLC lifted its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,342 shares of the basic materials company’s stock after acquiring an additional 699 shares during the period. Cerebellum GP LLC’s holdings in Ashland Global were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ASH. Ffcm LLC purchased a new stake in shares of Ashland Global during the 4th quarter worth $28,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Ashland Global during the 4th quarter worth $28,000. Doyle Wealth Management purchased a new stake in shares of Ashland Global during the 4th quarter worth $45,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Ashland Global by 36.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 182 shares in the last quarter. Finally, Claybrook Capital LLC purchased a new stake in shares of Ashland Global during the 4th quarter worth $48,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

In related news, insider Peter Ganz sold 1,562 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $74.32, for a total value of $116,087.84. Following the completion of the transaction, the insider now owns 40,150 shares of the company’s stock, valued at approximately $2,983,948. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Heitman sold 6,300 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.46, for a total transaction of $500,598.00. Following the completion of the transaction, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $500,836.38. The disclosure for this sale can be found here. Insiders sold a total of 15,065 shares of company stock valued at $1,189,252 in the last three months. 1.14% of the stock is currently owned by corporate insiders.

NYSE:ASH opened at $78.25 on Monday. The firm has a market cap of $4.91 billion, a PE ratio of 21.86, a PEG ratio of 2.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. Ashland Global Holdings Inc has a 52-week low of $64.93 and a 52-week high of $86.63.

Ashland Global (NYSE:ASH) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The firm had revenue of $667.00 million during the quarter, compared to the consensus estimate of $680.96 million. During the same quarter in the previous year, the company posted $1.06 EPS. The firm’s revenue for the quarter was down 31.5% on a year-over-year basis. On average, analysts expect that Ashland Global Holdings Inc will post 2.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Monday, June 3rd were paid a $0.275 dividend. This is an increase from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, May 31st. This represents a $1.10 annualized dividend and a yield of 1.41%. Ashland Global’s payout ratio is presently 30.73%.

Several brokerages have commented on ASH. ValuEngine lowered shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. TheStreet downgraded Ashland Global from a “b” rating to a “c” rating in a research note on Monday, June 10th. Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. downgraded Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price target for the company. in a research note on Friday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $90.88.

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Ashland Global Company 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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Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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