GSA Capital Partners LLP lessened its stake in Ashland Global Holdings Inc. (NYSE:ASH) by 4.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,487 shares of the basic materials company’s stock after selling 429 shares during the quarter. GSA Capital Partners LLP’s holdings in Ashland Global Holdings were worth $625,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ASH. Creative Planning lifted its holdings in shares of Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Ashland Global Holdings in the second quarter worth $290,000. World Asset Management Inc lifted its holdings in shares of Ashland Global Holdings by 2.4% in the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after buying an additional 104 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Ashland Global Holdings in the first quarter worth $324,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Ashland Global Holdings in the second quarter worth $329,000. 92.47% of the stock is currently owned by hedge funds and other institutional investors.
Ashland Global Holdings Inc. (NYSE:ASH) opened at 66.83 on Friday. Ashland Global Holdings Inc. has a 52-week low of $51.61 and a 52-week high of $67.90. The firm’s 50-day moving average is $63.42 and its 200-day moving average is $63.54. The company’s market cap is $4.17 billion.
Ashland Global Holdings (NYSE:ASH) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 EPS for the quarter, topping the 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 quarter in the previous year, the firm earned $1.95 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate 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 issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.90 annualized dividend and a dividend yield of 1.35%. Ashland Global Holdings’s dividend payout ratio is presently -25.42%.
Several equities analysts have recently commented on ASH shares. Deutsche Bank AG lowered their target price on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. BidaskClub cut shares of Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and issued a $74.00 price target on shares of Ashland Global Holdings in a research report on Sunday, September 3rd. TheStreet upgraded shares of Ashland Global Holdings from a “c” rating to a “b+” rating in a research report on Friday, June 16th. Finally, Zacks Investment Research cut shares of Ashland Global Holdings from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $88.83.
Ashland Global Holdings Company 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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