Numeric Investors LLC grew its holdings in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 39.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,600 shares of the basic materials company’s stock after acquiring an additional 4,400 shares during the quarter. Numeric Investors LLC’s holdings in Ashland Global Holdings were worth $1,028,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Neuberger Berman Group LLC boosted its position in Ashland Global Holdings by 12.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,336,608 shares of the basic materials company’s stock worth $88,096,000 after acquiring an additional 148,879 shares during the period. Condor Capital Management lifted its holdings in shares of Ashland Global Holdings by 92.7% in the second quarter. Condor Capital Management now owns 26,801 shares of the basic materials company’s stock valued at $1,766,000 after buying an additional 12,895 shares during the period. Atlantic Trust Group LLC lifted its holdings in shares of Ashland Global Holdings by 4.8% in the second quarter. Atlantic Trust Group LLC now owns 63,161 shares of the basic materials company’s stock valued at $4,163,000 after buying an additional 2,913 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Ashland Global Holdings in the second quarter valued at $54,562,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Ashland Global Holdings by 79.6% in the second quarter. JPMorgan Chase & Co. now owns 224,459 shares of the basic materials company’s stock valued at $14,795,000 after buying an additional 99,482 shares during the period. Institutional investors own 92.47% of the company’s stock.
Several analysts have recently weighed in on ASH shares. TheStreet upgraded Ashland Global Holdings from a “c” rating to a “b+” rating in a report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $74.00 price objective on shares of Ashland Global Holdings in a report on Sunday, September 3rd. Zacks Investment Research upgraded Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Wednesday, July 5th. BidaskClub lowered Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Deutsche Bank AG cut their price objective on Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Ashland Global Holdings presently has an average rating of “Hold” and a consensus target price of $88.83.
Shares of Ashland Global Holdings Inc. (ASH) opened at 66.15 on Wednesday. The firm’s market cap is $4.13 billion. Ashland Global Holdings Inc. has a one year low of $51.61 and a one year high of $67.90. The stock has a 50 day moving average price of $63.73 and a 200 day moving average price of $63.69.
Ashland Global Holdings (NYSE:ASH) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. The business had revenue of $870.00 million for the quarter, compared to analyst estimates of $842.78 million. During the same period last year, the company earned $1.95 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Ashland Global Holdings Inc. will post $4.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.225 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. Ashland Global Holdings’s dividend payout ratio is currently -25.42%.
Ashland Global Holdings Profile
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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