Ashland Global Holdings Inc (NYSE:ASH) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 3,755,500 shares, a drop of 9.3% from the May 30th total of 4,140,300 shares. Based on an average daily volume of 779,500 shares, the days-to-cover ratio is currently 4.8 days. Currently, 6.0% of the company’s shares are short sold.
ASH has been the subject of a number of recent research reports. TheStreet downgraded shares of Worthington Industries from a “b-” rating to a “c+” rating in a research report on Monday, June 10th. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. set a $24.00 price target on shares of Urovant Sciences and gave the stock a “buy” rating in a research note on Friday, June 14th. Credit Suisse Group set a $92.00 price target on shares of Ashland Global and gave the stock a “buy” rating in a research note on Friday. Finally, ValuEngine upgraded shares of Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 4th. Three analysts have rated the stock with 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 target price of $91.13.
Shares of NYSE ASH traded down $0.58 during mid-day trading on Monday, hitting $77.20. 3,046 shares of the company’s stock traded hands, compared to its average volume of 525,202. The business has a 50-day moving average of $77.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. The company has a market capitalization of $4.88 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.61 and a beta of 1.25. Ashland Global has a 1 year low of $64.93 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $680.96 million. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The business’s revenue was down 31.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. On average, equities analysts expect that Ashland Global will post 2.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Monday, June 3rd were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.42%. This is an increase from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date was 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 firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.32, for a total value of $116,087.84. Following the sale, the insider now directly owns 40,150 shares of the company’s stock, valued at $2,983,948. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Leisure Capital Management lifted its position in Ashland Global by 6.3% during the second quarter. Leisure Capital Management now owns 10,046 shares of the basic materials company’s stock valued at $803,000 after acquiring an additional 599 shares during the last quarter. Wiley BROS. Aintree Capital LLC lifted its position in Ashland Global by 18.5% during the second quarter. Wiley BROS. Aintree Capital LLC now owns 3,525 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 550 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its position in Ashland Global by 70.5% during the second quarter. Douglass Winthrop Advisors LLC now owns 20,455 shares of the basic materials company’s stock valued at $1,636,000 after acquiring an additional 8,455 shares during the last quarter. WINTON GROUP Ltd lifted its position in Ashland Global by 25.4% during the second quarter. WINTON GROUP Ltd now owns 465,396 shares of the basic materials company’s stock valued at $37,218,000 after acquiring an additional 94,373 shares during the last quarter. Finally, First Financial Bank Trust Division lifted its position in Ashland Global by 2.4% during the second quarter. First Financial Bank Trust Division now owns 57,246 shares of the basic materials company’s stock valued at $4,578,000 after acquiring an additional 1,352 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.
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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