Zacks Investment Research cut shares of Ashland Global Holdings Inc. (NYSE:ASH) from a buy rating to a hold rating in a research note released on Tuesday, July 18th.
According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “
Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Ashland Global Holdings from a c+ rating to a b rating in a research report on Wednesday, April 26th. BidaskClub downgraded shares of Ashland Global Holdings from a strong-buy rating to a buy rating in a research report on Sunday, July 16th. Jefferies Group LLC reissued a buy rating on shares of Ashland Global Holdings in a research report on Friday, June 23rd. ValuEngine raised shares of Ashland Global Holdings from a hold rating to a buy rating in a research report on Tuesday, May 16th. Finally, Credit Suisse Group set a $122.00 price objective on shares of Ashland Global Holdings and gave the company a hold rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Ashland Global Holdings presently has a consensus rating of Hold and a consensus target price of $88.33.
Ashland Global Holdings (NYSE:ASH) traded up 1.13% during midday trading on Tuesday, reaching $63.48. 692,984 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $66.24 and a 200 day moving average price of $62.02. Ashland Global Holdings has a 52 week low of $60.27 and a 52 week high of $128.19. The company’s market cap is $3.94 billion.
Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The company had revenue of $870 million during the quarter, compared to the consensus estimate of $842.78 million. During the same quarter last year, the firm posted $1.95 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts anticipate that Ashland Global Holdings will post $4.42 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Wednesday, August 30th. Ashland Global Holdings’s payout ratio is -25.42%.
Several hedge funds have recently made changes to their positions in ASH. Creative Planning increased its stake in shares of Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after buying an additional 101 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Ashland Global Holdings during the fourth quarter valued at approximately $113,000. Bollard Group LLC increased its stake in shares of Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock valued at $115,000 after buying an additional 3 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Ashland Global Holdings by 8.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,273 shares of the basic materials company’s stock valued at $143,000 after buying an additional 99 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock valued at $192,000 after buying an additional 66 shares during the last quarter. 89.69% of the stock is owned by institutional investors and hedge funds.
About Ashland Global Holdings
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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