Marshall Wace North America L.P. purchased a new stake in Ashland Global Holdings Inc (NYSE:ASH) during the third quarter, according to its most recent filing with the SEC. The firm purchased 186,172 shares of the basic materials company’s stock, valued at approximately $15,612,000. Marshall Wace North America L.P. owned 0.30% of Ashland Global at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in shares of Ashland Global in the 3rd quarter valued at $138,000. Creative Planning purchased a new position in shares of Ashland Global in the 3rd quarter valued at $206,000. Commerce Bank purchased a new position in shares of Ashland Global in the 3rd quarter valued at $209,000. Brown Advisory Inc. purchased a new position in shares of Ashland Global in the 2nd quarter valued at $200,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Ashland Global in the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 93.00% of the company’s stock.
In other Ashland Global news, VP Keith C. Silverman sold 2,286 shares of Ashland Global stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total transaction of $193,647.06. Following the completion of the sale, the vice president now owns 4,183 shares of the company’s stock, valued at approximately $354,341.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO J Kevin Willis sold 8,519 shares of Ashland Global stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $81.50, for a total value of $694,298.50. Following the sale, the chief financial officer now directly owns 3,168 shares of the company’s stock, valued at approximately $258,192. The disclosure for this sale can be found here. Insiders sold a total of 17,353 shares of company stock valued at $1,418,052 in the last three months. Insiders own 1.14% of the company’s stock.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.97. The firm had revenue of $956.00 million during the quarter, compared to analysts’ expectations of $926.50 million. Ashland Global had a return on equity of 6.71% and a net margin of 3.05%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, equities research analysts expect that Ashland Global Holdings Inc will post 3.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Monday, December 3rd will be given a $0.25 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Ashland Global’s payout ratio is 27.93%.
ASH has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Ashland Global from $81.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, August 24th. Zacks Investment Research cut Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Credit Suisse Group set a $95.00 price objective on Ashland Global and gave the stock a “buy” rating in a research report on Friday, September 21st. UBS Group raised their price objective on Ashland Global from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, TheStreet cut Ashland Global from a “b” rating to a “c+” rating in a research report on Wednesday, November 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $92.50.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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