Ashland Global Holdings Inc. (NYSE:ASH) insider William J. Heitman sold 4,495 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $70.31, for a total value of $316,043.45. Following the sale, the insider now directly owns 15,152 shares of the company’s stock, valued at $1,065,337.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Ashland Global Holdings Inc. (ASH) opened at $69.77 on Monday. The stock has a market capitalization of $4,341.70, a P/E ratio of -1,162.83, a PEG ratio of 2.18 and a beta of 1.13. Ashland Global Holdings Inc. has a one year low of $59.29 and a one year high of $77.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.29 and a current ratio of 1.96.
Ashland Global (NYSE:ASH) last issued its earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $842.05 million. Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. During the same period last year, the company posted $1.16 earnings per share. research analysts anticipate that Ashland Global Holdings Inc. will post 3.2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, February 28th. Ashland Global’s payout ratio is currently -1,500.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. Pictet Asset Management Ltd. purchased a new position in Ashland Global in the 3rd quarter valued at approximately $33,672,000. Point72 Europe London LLP increased its stake in Ashland Global by 264.3% in the 2nd quarter. Point72 Europe London LLP now owns 562,874 shares of the basic materials company’s stock valued at $37,099,000 after purchasing an additional 408,364 shares in the last quarter. Schroder Investment Management Group increased its stake in Ashland Global by 30.7% in the 3rd quarter. Schroder Investment Management Group now owns 1,463,395 shares of the basic materials company’s stock valued at $95,999,000 after purchasing an additional 344,160 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Ashland Global by 32.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,117,605 shares of the basic materials company’s stock valued at $73,078,000 after purchasing an additional 274,617 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Ashland Global by 125.4% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 369,502 shares of the basic materials company’s stock valued at $24,162,000 after purchasing an additional 205,549 shares in the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on ASH shares. Zacks Investment Research cut Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Monday, January 15th. Deutsche Bank increased their price objective on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. SunTrust Banks increased their price objective on Ashland Global to $83.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Credit Suisse Group increased their price objective on Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Finally, Jefferies Group reissued a “buy” rating on shares of Ashland Global in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $83.00.
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Ashland Global Company 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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