Ashland Global Holdings Inc. (NYSE:ASH) declared a quarterly dividend on Friday, January 29th, Zacks reports. Shareholders of record on Friday, February 26th will be paid a dividend of 0.275 per share by the basic materials company on Monday, March 15th. This represents a $1.10 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, February 25th.
Ashland Global has raised its dividend by 3.3% over the last three years and has increased its dividend every year for the last 1 years. Ashland Global has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Ashland Global to earn $4.21 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 26.1%.
Shares of NYSE ASH opened at $86.17 on Tuesday. The business’s 50 day moving average price is $85.21 and its two-hundred day moving average price is $77.71. The company has a market cap of $5.23 billion, a PE ratio of -10.26 and a beta of 1.35. The company has a quick ratio of 1.25, a current ratio of 1.90 and a debt-to-equity ratio of 0.52. Ashland Global has a twelve month low of $38.88 and a twelve month high of $89.62.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Ashland Global had a positive return on equity of 5.40% and a negative net margin of 21.84%. The firm had revenue of $552.00 million for the quarter, compared to the consensus estimate of $540.18 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Ashland Global will post 3.69 EPS for the current fiscal year.
In other news, CFO J Kevin Willis sold 4,074 shares of the company’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $80.00, for a total transaction of $325,920.00. Following the completion of the transaction, the chief financial officer now directly owns 938 shares in the company, valued at $75,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter Ganz sold 2,549 shares of the company’s stock in a transaction on Monday, November 30th. The stock was sold at an average price of $75.93, for a total transaction of $193,545.57. Following the transaction, the senior vice president now owns 41,532 shares of the company’s stock, valued at $3,153,524.76. The disclosure for this sale can be found here. 10.08% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on ASH shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Ashland Global from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, February 8th. Credit Suisse Group boosted their price target on Ashland Global from $94.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. Monness Crespi & Hardt boosted their price target on Ashland Global from $88.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 5th. Finally, Zacks Investment Research cut Ashland Global from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Monday, November 16th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $90.50.
About Ashland Global
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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