OppenheimerFunds Inc. raised its holdings in Ashland Global Holdings Inc (NYSE:ASH) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,814 shares of the basic materials company’s stock after purchasing an additional 5,195 shares during the period. OppenheimerFunds Inc. owned 0.69% of Ashland Global worth $33,893,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Ffcm LLC purchased a new position in Ashland Global in the 4th quarter worth approximately $28,000. Semmax Financial Advisors Inc. purchased a new position in Ashland Global in the 4th quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. grew its stake in Ashland Global by 517.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 358 shares of the basic materials company’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Doyle Wealth Management purchased a new position in Ashland Global in the 4th quarter worth approximately $45,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Ashland Global by 36.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock worth $48,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.
In related news, insider William J. Heitman sold 7,203 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.49, for a total transaction of $572,566.47. Following the completion of the sale, the insider now directly owns 6,303 shares in the company, valued at approximately $501,025.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Ganz sold 1,562 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $74.32, for a total transaction of $116,087.84. Following the sale, the insider now owns 40,150 shares of the company’s stock, valued at $2,983,948. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,221 shares of company stock valued at $1,359,296. Company insiders own 1.14% of the company’s stock.
Shares of ASH traded up $0.07 during mid-day trading on Wednesday, reaching $78.47. The company’s stock had a trading volume of 2,666 shares, compared to its average volume of 771,894. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27. 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 quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $667.00 million during the quarter, compared to analyst estimates of $680.96 million. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The business’s quarterly revenue was down 31.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. As a group, equities research analysts predict that Ashland Global Holdings Inc will post 2.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Monday, June 3rd will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, May 31st. Ashland Global’s payout ratio is presently 30.73%.
A number of equities analysts have commented on ASH shares. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. TheStreet upgraded shares of Ashland Global from a “c+” rating to a “b” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of Ashland Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Ashland Global has an average rating of “Buy” and a consensus target price of $89.15.
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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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