Gabelli Funds LLC reduced its stake in Ashland Global Holdings Inc. (NYSE:ASH) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 199,900 shares of the basic materials company’s stock after selling 2,700 shares during the quarter. Gabelli Funds LLC owned approximately 0.32% of Ashland Global worth $14,233,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its position in Ashland Global by 0.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 131,166 shares of the basic materials company’s stock worth $8,645,000 after buying an additional 383 shares during the period. AHL Partners LLP increased its position in Ashland Global by 33.8% in the 2nd quarter. AHL Partners LLP now owns 13,979 shares of the basic materials company’s stock worth $921,000 after buying an additional 3,528 shares during the period. Shelton Capital Management bought a new position in Ashland Global in the 2nd quarter worth approximately $308,000. Janus Henderson Group PLC increased its position in Ashland Global by 48.0% in the 2nd quarter. Janus Henderson Group PLC now owns 62,051 shares of the basic materials company’s stock worth $4,090,000 after buying an additional 20,137 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Ashland Global during the second quarter valued at approximately $522,000. Hedge funds and other institutional investors own 90.86% of the company’s stock.
In related news, SVP Anne T. Schumann sold 8,507 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $73.46, for a total transaction of $624,924.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Heitman sold 4,495 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $70.31, for a total value of $316,043.45. Following the transaction, the insider now directly owns 15,152 shares of the company’s stock, valued at $1,065,337.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,809 shares of company stock valued at $2,795,145. 1.14% of the stock is owned by corporate insiders.
Ashland Global Holdings Inc. (NYSE:ASH) traded down $0.90 during trading hours on Friday, reaching $72.24. The company’s stock had a trading volume of 1,279,449 shares, compared to its average volume of 1,407,014. Ashland Global Holdings Inc. has a 1 year low of $59.42 and a 1 year high of $77.16. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4,466.78, a price-to-earnings ratio of -1,204.00, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $842.05 million. During the same quarter last year, the company earned $1.16 earnings per share. sell-side analysts expect that Ashland Global Holdings Inc. will post 3.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.25%. Ashland Global’s payout ratio is presently -1,500.00%.
About Ashland Global
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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