Federated Investors Inc. PA trimmed its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 31.0% during the second quarter, HoldingsChannel.com reports. The fund owned 128,958 shares of the basic materials company’s stock after selling 57,988 shares during the quarter. Federated Investors Inc. PA’s holdings in Ashland Global were worth $10,082,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in ASH. Mackay Shields LLC bought a new position in Ashland Global during the first quarter worth about $601,000. Victory Capital Management Inc. increased its holdings in Ashland Global by 7.4% in the 1st quarter. Victory Capital Management Inc. now owns 898,910 shares of the basic materials company’s stock valued at $62,735,000 after buying an additional 61,960 shares during the period. Swiss National Bank increased its holdings in Ashland Global by 2.2% in the 1st quarter. Swiss National Bank now owns 108,600 shares of the basic materials company’s stock valued at $7,579,000 after buying an additional 2,300 shares during the period. Aperio Group LLC increased its holdings in Ashland Global by 8.4% in the 1st quarter. Aperio Group LLC now owns 30,109 shares of the basic materials company’s stock valued at $2,101,000 after buying an additional 2,321 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in 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 valued at $173,783,000 after buying an additional 808,605 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.
ASH stock opened at $84.33 on Thursday. 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 Holdings Inc has a 12 month low of $60.93 and a 12 month high of $86.63. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.35 and a beta of 1.20.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. Ashland Global had a net margin of 1.28% and a return on equity of 6.36%. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company posted $0.83 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. equities research analysts forecast that Ashland Global Holdings Inc will post 3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 15th. Stockholders of record on Friday, August 31st will be paid a $0.25 dividend. This is an increase from Ashland Global’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, August 30th. Ashland Global’s dividend payout ratio (DPR) is presently 40.98%.
Several equities analysts have commented on the stock. Credit Suisse Group raised their target price on shares of Ashland Global from $86.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research raised shares of Ashland Global from a “hold” rating to a “strong-buy” rating and set a $90.00 target price on the stock in a report on Tuesday, July 3rd. Jefferies Financial Group raised their target price on shares of Ashland Global to $95.00 and gave the company a “buy” rating in a report on Monday, June 4th. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Finally, SunTrust Banks reissued a “buy” rating and issued a $90.00 target price on shares of Ashland Global in a report on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $88.20.
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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