Victory Capital Management Inc. decreased its position in Ashland Global Holdings Inc. (NYSE:ASH) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 796,805 shares of the basic materials company’s stock after selling 31,030 shares during the quarter. Victory Capital Management Inc. owned 1.28% of Ashland Global Holdings worth $52,103,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Boussard & Gavaudan Investment Management LLP purchased a new position in shares of Ashland Global Holdings during the 3rd quarter valued at approximately $6,850,000. Neuberger Berman Group LLC lifted its stake in Ashland Global Holdings by 12.5% during the second quarter. Neuberger Berman Group LLC now owns 1,336,608 shares of the basic materials company’s stock worth $88,096,000 after purchasing an additional 148,879 shares during the last quarter. Condor Capital Management lifted its stake in Ashland Global Holdings by 92.7% during the second quarter. Condor Capital Management now owns 26,801 shares of the basic materials company’s stock worth $1,766,000 after purchasing an additional 12,895 shares during the last quarter. Sciencast Management LP bought a new position in Ashland Global Holdings during the second quarter worth $271,000. Finally, JPMorgan Chase & Co. lifted its stake in Ashland Global Holdings by 79.6% during the second quarter. JPMorgan Chase & Co. now owns 224,459 shares of the basic materials company’s stock worth $14,795,000 after purchasing an additional 99,482 shares during the last quarter. 94.65% of the stock is owned by institutional investors.
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Several equities analysts recently issued reports on ASH shares. Jefferies Group LLC restated a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a research note on Sunday, September 3rd. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Tuesday, October 24th. BidaskClub lowered Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Credit Suisse Group increased their target price on Ashland Global Holdings from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Finally, Deutsche Bank AG increased their target price on Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.29.
Ashland Global Holdings Inc. (NYSE ASH) traded up $0.11 during trading hours on Tuesday, reaching $70.27. The company had a trading volume of 717,064 shares, compared to its average volume of 904,628. The firm has a market capitalization of $4,360.00, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.07 and a beta of 1.08. Ashland Global Holdings Inc. has a 1 year low of $53.79 and a 1 year high of $71.02. The company has a current ratio of 1.97, a quick ratio of 1.31 and a debt-to-equity ratio of 0.76.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million during the quarter, compared to analyst estimates of $869.62 million. During the same quarter last year, the business earned $1.52 EPS. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. equities analysts anticipate that Ashland Global Holdings Inc. will post 3.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.225 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.28%. Ashland Global Holdings’s dividend payout ratio (DPR) is -53.25%.
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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