Gabelli Funds LLC decreased its position in shares of Ashland Global Holdings Inc (NYSE:ASH) by 0.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 197,200 shares of the basic materials company’s stock after selling 700 shares during the period. Gabelli Funds LLC’s holdings in Ashland Global were worth $16,537,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. lifted its stake in shares of Ashland Global by 17.8% during the 3rd quarter. Fox Run Management L.L.C. now owns 4,330 shares of the basic materials company’s stock valued at $363,000 after buying an additional 654 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Ashland Global during the 2nd quarter valued at $235,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Ashland Global during the 3rd quarter valued at $6,868,000. First Financial Bank Trust Division increased its holdings in Ashland Global by 1.2% in the 3rd quarter. First Financial Bank Trust Division now owns 54,076 shares of the basic materials company’s stock valued at $4,535,000 after acquiring an additional 642 shares during the last quarter. Finally, ING Groep NV bought a new stake in Ashland Global in the 2nd quarter valued at $747,000. Institutional investors own 93.25% of the company’s stock.
ASH has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of Ashland Global from $81.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, August 24th. Credit Suisse Group set a $95.00 price target on shares of Ashland Global and gave the company a “buy” rating in a report on Friday, September 21st. UBS Group lifted their price target on shares of Ashland Global from $93.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, KeyCorp reiterated a “buy” rating and issued a $93.00 price target on shares of Ashland Global in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.56.
In other news, VP Keith C. Silverman sold 2,286 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total value of $193,647.06. Following the sale, the vice president now directly owns 4,183 shares in the company, valued at approximately $354,341.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.14% of the company’s stock.
Ashland Global stock opened at $83.83 on Friday. Ashland Global Holdings Inc has a twelve month low of $64.13 and a twelve 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. The stock has a market capitalization of $4.86 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.28.
Ashland Global (NYSE:ASH) last posted its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. Ashland Global had a net margin of 3.05% and a return on equity of 6.69%. The firm had revenue of $956.00 million for the quarter, compared to the consensus estimate of $926.50 million. During the same period in the previous year, the firm posted $0.78 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Ashland Global Holdings Inc will post 4.3 earnings per share for the current fiscal year.
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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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