Arizona State Retirement System raised its position in Ashland Global Holdings Inc (NYSE:ASH) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 43,325 shares of the basic materials company’s stock after buying an additional 1,211 shares during the period. Arizona State Retirement System owned about 0.07% of Ashland Global worth $3,387,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its position in shares of Ashland Global by 48.1% in the 1st quarter. Neuberger Berman Group LLC now owns 2,490,078 shares of the basic materials company’s stock worth $173,783,000 after purchasing an additional 808,605 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Ashland Global by 174.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,249,166 shares of the basic materials company’s stock worth $87,179,000 after purchasing an additional 794,666 shares during the last quarter. Millennium Management LLC boosted its position in shares of Ashland Global by 216.2% in the 1st quarter. Millennium Management LLC now owns 496,472 shares of the basic materials company’s stock worth $34,649,000 after purchasing an additional 339,482 shares during the last quarter. Water Island Capital LLC bought a new position in shares of Ashland Global in the 1st quarter worth $15,445,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Ashland Global by 135.7% in the 1st quarter. Handelsbanken Fonder AB now owns 330,000 shares of the basic materials company’s stock worth $23,031,000 after purchasing an additional 190,000 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Several research analysts have recently issued reports on ASH shares. TheStreet upgraded Ashland Global from a “c+” rating to a “b” rating in a research report on Wednesday, May 2nd. KeyCorp restated a “buy” rating and issued a $93.00 price target on shares of Ashland Global in a research report on Thursday, August 2nd. Credit Suisse Group raised their price target on Ashland Global from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. SunTrust Banks restated a “buy” rating and issued a $90.00 price target on shares of Ashland Global in a research report on Friday, July 20th. Finally, Jefferies Financial Group raised their price target on Ashland Global to $95.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.20.
Shares of Ashland Global stock opened at $84.70 on Thursday. The firm has a market cap of $5.30 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.38 and a beta of 1.17. Ashland Global Holdings Inc has a 12 month low of $60.28 and a 12 month high of $86.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.37 and a current ratio of 2.25.
Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.10. The business had revenue of $971.00 million for the quarter, compared to the consensus estimate of $1 billion. Ashland Global had a return on equity of 6.36% and a net margin of 1.28%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. analysts expect that Ashland Global Holdings Inc will post 3.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Friday, August 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, August 30th. This is an increase from Ashland Global’s previous quarterly dividend of $0.23. Ashland Global’s dividend payout ratio (DPR) is presently 40.98%.
About Ashland Global
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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