State of Tennessee Treasury Department boosted its stake in shares of Ashland Global Holdings Inc (NYSE:ASH) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,988 shares of the basic materials company’s stock after acquiring an additional 2,307 shares during the quarter. State of Tennessee Treasury Department owned about 0.09% of Ashland Global worth $4,237,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of ASH. Mcmillion Capital Management Inc. bought a new position in shares of Ashland Global during the second quarter valued at approximately $28,000. Advisory Services Network LLC boosted its holdings in shares of Ashland Global by 213.4% in the second quarter. Advisory Services Network LLC now owns 351 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 239 shares during the period. Executive Wealth Management LLC boosted its holdings in shares of Ashland Global by 738.2% in the second quarter. Executive Wealth Management LLC now owns 461 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 406 shares during the period. Old North State Trust LLC purchased a new stake in shares of Ashland Global in the third quarter valued at approximately $38,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Ashland Global in the second quarter valued at approximately $40,000. 95.59% of the stock is currently owned by institutional investors.
ASH has been the subject of a number of research reports. SunTrust Banks lowered their price target on Ashland Global from $95.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. They noted that the move was a valuation call. Wells Fargo & Co initiated coverage on Ashland Global in a report on Tuesday, October 15th. They set an “outperform” rating and a $90.00 target price for the company. Credit Suisse Group set a $92.00 target price on Ashland Global and gave the stock a “buy” rating in a report on Friday, July 12th. Monness Crespi & Hardt upgraded Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 target price for the company in a report on Monday, October 14th. Finally, ValuEngine upgraded Ashland Global from a “hold” rating to a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $87.38.
Ashland Global stock opened at $77.91 on Friday. The business has a fifty day moving average of $76.83 and a two-hundred day moving average of $76.37. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.73 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.15 and a beta of 1.27. Ashland Global Holdings Inc has a twelve month low of $64.93 and a twelve month high of $84.81.
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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