Strs Ohio boosted its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH – Get Rating) by 26.5% in the first quarter, Holdings Channel reports. The firm owned 25,497 shares of the basic materials company’s stock after acquiring an additional 5,347 shares during the period. Strs Ohio’s holdings in Ashland Global were worth $2,509,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in ASH. Allspring Global Investments Holdings LLC bought a new stake in Ashland Global during the fourth quarter worth approximately $67,620,000. Goldman Sachs Group Inc. boosted its position in Ashland Global by 34.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,243,614 shares of the basic materials company’s stock worth $133,887,000 after purchasing an additional 320,731 shares during the period. Renaissance Technologies LLC boosted its position in Ashland Global by 212.4% during the fourth quarter. Renaissance Technologies LLC now owns 282,975 shares of the basic materials company’s stock worth $30,465,000 after purchasing an additional 192,400 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in Ashland Global by 88.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 239,880 shares of the basic materials company’s stock worth $25,825,000 after purchasing an additional 112,880 shares during the period. Finally, Ceredex Value Advisors LLC boosted its position in Ashland Global by 7.8% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,255,768 shares of the basic materials company’s stock worth $135,196,000 after purchasing an additional 90,789 shares during the period. 96.75% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on ASH. Wells Fargo & Company upped their price target on Ashland Global from $105.00 to $113.00 and gave the stock an “equal weight” rating in a report on Monday, April 18th. Mizuho upped their price target on Ashland Global from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Ashland Global from $120.00 to $122.00 in a report on Thursday, April 28th. StockNews.com began coverage on Ashland Global in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet upgraded Ashland Global from a “c” rating to a “b-” rating in a report on Tuesday, April 26th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.14.
In other news, insider Eric N. Boni sold 2,657 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $109.50, for a total transaction of $290,941.50. Following the sale, the insider now owns 10,640 shares in the company, valued at $1,165,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J Kevin Willis sold 4,235 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $105.58, for a total value of $447,131.30. Following the sale, the chief financial officer now owns 4,066 shares in the company, valued at approximately $429,288.28. The disclosure for this sale can be found here. Corporate insiders own 7.79% of the company’s stock.
Shares of NYSE ASH opened at $101.44 on Friday. The business has a fifty day simple moving average of $102.12 and a 200 day simple moving average of $99.76. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 6.14 and a beta of 1.10. Ashland Global Holdings Inc. has a one year low of $81.93 and a one year high of $112.91.
Ashland Global (NYSE:ASH – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.14. Ashland Global had a return on equity of 9.45% and a net margin of 40.83%. The firm had revenue of $604.00 million during the quarter, compared to analyst estimates of $603.89 million. During the same period in the prior year, the company posted $1.05 earnings per share. On average, research analysts anticipate that Ashland Global Holdings Inc. will post 5.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.335 per share. This is a positive change from Ashland Global’s previous quarterly dividend of $0.30. This represents a $1.34 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, May 31st. Ashland Global’s dividend payout ratio is currently 8.11%.
Ashland Global declared that its board has initiated a stock repurchase plan on Wednesday, May 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
About Ashland Global (Get Rating)
Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.
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.