Luminus Management LLC raised its position in Ashland Global Holdings Inc. (NYSE:ASH) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,884,222 shares of the basic materials company’s stock after purchasing an additional 444,785 shares during the quarter. Ashland Global makes up approximately 2.8% of Luminus Management LLC’s holdings, making the stock its 7th biggest position. Luminus Management LLC owned about 3.03% of Ashland Global worth $134,158,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ASH. California State Teachers Retirement System lifted its position in shares of Ashland Global by 0.9% in the fourth quarter. California State Teachers Retirement System now owns 107,881 shares of the basic materials company’s stock worth $7,681,000 after buying an additional 999 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Ashland Global by 27,639.3% in the fourth quarter. Two Sigma Investments LP now owns 358,011 shares of the basic materials company’s stock worth $25,490,000 after buying an additional 359,311 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Ashland Global by 104.4% in the fourth quarter. Two Sigma Advisers LP now owns 154,778 shares of the basic materials company’s stock worth $11,020,000 after buying an additional 79,040 shares during the last quarter. York Capital Management Global Advisors LLC lifted its position in shares of Ashland Global by 11.0% in the fourth quarter. York Capital Management Global Advisors LLC now owns 1,014,666 shares of the basic materials company’s stock worth $72,244,000 after buying an additional 100,334 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Ashland Global in the fourth quarter worth about $403,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.
In related news, insider William J. Heitman sold 4,495 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $70.31, for a total transaction of $316,043.45. Following the transaction, the insider now directly owns 15,152 shares in the company, valued at $1,065,337.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anne T. Schumann sold 8,507 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $73.46, for a total value of $624,924.22. The disclosure for this sale can be found here. Insiders have sold a total of 24,735 shares of company stock valued at $1,800,527 in the last three months. 1.14% of the stock is owned by insiders.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $842.05 million. During the same period in the prior year, the firm posted $1.16 EPS. analysts forecast that Ashland Global Holdings Inc. will post 3.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.90 annualized dividend and a dividend yield of 1.24%. Ashland Global’s dividend payout ratio is presently -1,500.00%.
A number of brokerages have weighed in on ASH. Zacks Investment Research cut Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Monday, January 15th. SunTrust Banks boosted their price target on Ashland Global to $83.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Jefferies Group reaffirmed a “buy” rating on shares of Ashland Global in a research report on Tuesday, January 30th. Monness Crespi & Hardt cut Ashland Global from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 31st. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $81.00 price target on shares of Ashland Global in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.00.
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Ashland Global Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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