Ashland Global Holdings Inc (ASH) Stake Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in Ashland Global Holdings Inc (NYSE:ASH) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,051 shares of the basic materials company’s stock after selling 10,878 shares during the quarter. Wells Fargo & Company MN owned about 0.16% of Ashland Global worth $7,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. American International Group Inc. lifted its stake in shares of Ashland Global by 0.7% in the 4th quarter. American International Group Inc. now owns 128,574 shares of the basic materials company’s stock valued at $9,154,000 after purchasing an additional 913 shares during the period. California State Teachers Retirement System increased its position in Ashland Global by 0.9% in the 4th quarter. California State Teachers Retirement System now owns 107,881 shares of the basic materials company’s stock valued at $7,681,000 after buying an additional 999 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in Ashland Global by 2.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 49,715 shares of the basic materials company’s stock valued at $3,540,000 after buying an additional 1,108 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Ashland Global by 2.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 66,260 shares of the basic materials company’s stock valued at $4,718,000 after buying an additional 1,749 shares in the last quarter. Finally, South Street Advisors LLC increased its position in Ashland Global by 2.1% in the 4th quarter. South Street Advisors LLC now owns 90,050 shares of the basic materials company’s stock valued at $6,411,000 after buying an additional 1,851 shares in the last quarter. 94.71% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on ASH. JPMorgan Chase & Co. boosted their target price on Ashland Global from $71.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, June 15th. KeyCorp boosted their target price on Ashland Global from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. TheStreet raised Ashland Global from a “c+” rating to a “b” rating in a research report on Wednesday, May 2nd. ValuEngine raised Ashland Global from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Finally, Credit Suisse Group set a $86.00 target price on Ashland Global and gave the company a “buy” rating in a research report on Friday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Ashland Global presently has an average rating of “Buy” and an average price target of $82.60.

Shares of ASH opened at $77.49 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.41 and a quick ratio of 1.49. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 2.24 and a beta of 1.17. Ashland Global Holdings Inc has a 52 week low of $59.80 and a 52 week high of $80.84.

Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, May 1st. The basic materials company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.19. The firm had revenue of $974.00 million during the quarter, compared to analyst estimates of $955.39 million. Ashland Global had a positive return on equity of 5.77% and a negative net margin of 0.62%. During the same period in the previous year, the company posted $1.71 EPS. analysts expect that Ashland Global Holdings Inc will post 3.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, May 31st. Ashland Global’s dividend payout ratio is presently 40.98%.

Ashland Global declared that its board has initiated a stock repurchase plan on Tuesday, March 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ashland Global Company Profile

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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