Principal Financial Group Inc. lifted its stake in Ashland Global Holdings Inc. (NYSE:ASH) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,427 shares of the basic materials company’s stock after acquiring an additional 2,235 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Ashland Global worth $17,357,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Creative Planning increased its position in Ashland Global by 7.1% during 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 during the last quarter. Sciencast Management LP acquired a new position in Ashland Global during the second quarter worth approximately $271,000. Trexquant Investment LP acquired a new position in Ashland Global during the second quarter worth approximately $290,000. World Asset Management Inc increased its position in Ashland Global by 2.4% during 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 during the last quarter. Finally, Leavell Investment Management Inc. acquired a new position in Ashland Global during the third quarter worth approximately $294,000. 94.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Peter Ganz sold 3,379 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $70.63, for a total transaction of $238,658.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO J Kevin Willis sold 916 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $70.61, for a total value of $64,678.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,190 shares of company stock valued at $572,493. Corporate insiders own 1.27% of the company’s stock.
A number of equities analysts have weighed in on ASH shares. Jefferies Group LLC reissued a “buy” rating and set a $74.00 price target on shares of Ashland Global in a research report on Sunday, July 30th. BidaskClub downgraded Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. TheStreet downgraded Ashland Global from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. Deutsche Bank AG lowered their price target on Ashland Global from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Ashland Global presently has a consensus rating of “Hold” and a consensus price target of $81.29.
Shares of Ashland Global Holdings Inc. (NYSE:ASH) opened at $70.81 on Friday. Ashland Global Holdings Inc. has a 1-year low of $59.80 and a 1-year high of $128.19. The stock has a market capitalization of $4,400.35, a P/E ratio of 15.81, a PEG ratio of 2.07 and a beta of 1.07. 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 (NYSE:ASH) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to the consensus estimate of $869.62 million. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue was up 16.7% on a year-over-year basis. equities research analysts expect that Ashland Global Holdings Inc. will post 3.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, November 30th. Ashland Global’s dividend payout ratio is presently -9,000,000.00%.
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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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