Bank of America Corp DE decreased its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 23.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 144,790 shares of the basic materials company’s stock after selling 44,473 shares during the period. Bank of America Corp DE owned approximately 0.23% of Ashland Global Holdings worth $17,926,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in Ashland Global Holdings by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 198,005 shares of the basic materials company’s stock worth $24,516,000 after buying an additional 6,986 shares in the last quarter. Advisor Partners LLC raised its stake in Ashland Global Holdings by 1.1% in the first quarter. Advisor Partners LLC now owns 1,969 shares of the basic materials company’s stock valued at $244,000 after buying an additional 22 shares during the last quarter. Northstar Group Inc. acquired a new stake in Ashland Global Holdings during the first quarter valued at about $218,000. Creative Planning raised its stake in Ashland Global Holdings by 0.3% in the first quarter. Creative Planning now owns 1,426 shares of the basic materials company’s stock valued at $177,000 after buying an additional 4 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Ashland Global Holdings by 5.8% in the first quarter. Legal & General Group Plc now owns 300,755 shares of the basic materials company’s stock worth $37,236,000 after buying an additional 16,582 shares during the period. 89.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ashland Global Holdings Inc. (NYSE ASH) traded up 0.11% during mid-day trading on Friday, reaching $66.67. 353,935 shares of the company traded hands. Ashland Global Holdings Inc. has a 52-week low of $51.61 and a 52-week high of $67.90. The stock’s 50 day moving average is $66.44 and its 200 day moving average is $61.29. The stock’s market capitalization is $4.15 billion.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.10. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ashland Global Holdings had a positive return on equity of 13.53% and a negative net margin of 2.26%. During the same period in the previous year, the business posted $1.83 earnings per share. On average, analysts anticipate that Ashland Global Holdings Inc. will post $4.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 1.35%. The ex-dividend date is Wednesday, August 30th. Ashland Global Holdings’s dividend payout ratio (DPR) is currently -48.13%.
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ASH has been the topic of a number of research analyst reports. TheStreet upgraded shares of Ashland Global Holdings from a “c+” rating to a “b” rating in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research note on Friday, April 28th. Jefferies Group LLC reiterated a “buy” rating and set a $139.00 price objective on shares of Ashland Global Holdings in a research note on Friday, March 31st. ValuEngine upgraded shares of Ashland Global Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Finally, BidaskClub downgraded shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $107.67.
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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