Ashland Global Holdings Inc (NYSE:ASH) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 5,086 call options on the stock. This represents an increase of approximately 4,886% compared to the typical daily volume of 102 call options.
ASH has been the topic of several research reports. Credit Suisse Group set a $95.00 target price on Ashland Global and gave the stock a “buy” rating in a research note on Sunday, November 4th. TheStreet downgraded shares of Ashland Global from a “b” rating to a “c+” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised shares of Ashland Global from a “sell” rating to a “hold” rating and set a $91.00 price objective for the company in a research note on Monday, November 12th. Deutsche Bank raised their target price on Ashland Global from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Finally, Buckingham Research began coverage on Ashland Global in a research note on Monday, December 17th. They set a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Ashland Global presently has a consensus rating of “Buy” and an average price target of $89.80.
ASH stock opened at $79.49 on Thursday. Ashland Global has a 1 year low of $64.81 and a 1 year high of $86.63. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 2.43 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.20 and a quick ratio of 1.51.
Ashland Global (NYSE:ASH) last posted its earnings results on Tuesday, February 5th. The basic materials company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $585.78 million. Ashland Global had a net margin of 2.01% and a return on equity of 6.17%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, sell-side analysts forecast that Ashland Global will post 3.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, February 28th. Ashland Global’s dividend payout ratio (DPR) is presently 27.93%.
In other Ashland Global news, CFO J Kevin Willis sold 2,455 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $80.94, for a total transaction of $198,707.70. Following the completion of the sale, the chief financial officer now directly owns 17,114 shares in the company, valued at $1,385,207.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Keith C. Silverman sold 498 shares of Ashland Global stock in a transaction on Monday, November 19th. The stock was sold at an average price of $81.67, for a total transaction of $40,671.66. Following the transaction, the vice president now directly owns 3,380 shares in the company, valued at $276,044.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,067 shares of company stock worth $1,224,405. Corporate insiders own 1.14% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. grew its position in Ashland Global by 0.4% in the 4th quarter. American International Group Inc. now owns 127,363 shares of the basic materials company’s stock valued at $9,038,000 after acquiring an additional 466 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ashland Global by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 614,506 shares of the basic materials company’s stock valued at $43,605,000 after buying an additional 39,045 shares in the last quarter. Fort L.P. acquired a new position in shares of Ashland Global in the 4th quarter worth approximately $83,000. Brown Advisory Inc. raised its stake in Ashland Global by 7.1% during the 4th quarter. Brown Advisory Inc. now owns 3,626 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 240 shares in the last quarter. Finally, Gideon Capital Advisors Inc. acquired a new position in shares of Ashland Global in the 4th quarter worth $275,000. 95.25% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This report was first posted by Macon Daily and is the property of of Macon Daily. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://macondaily.com/2019/02/14/investors-purchase-high-volume-of-ashland-global-call-options-ash.html.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
Read More: Asset Allocation and Your Retirement
Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.