Gabelli Funds LLC boosted its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 19.2% during the fourth quarter, Holdings Channel reports. The firm owned 185,900 shares of the company’s stock after buying an additional 29,900 shares during the period. Gabelli Funds LLC’s holdings in Ashland Global Holdings were worth $20,317,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in ASH. MU Investments Co. Ltd. purchased a new position in Ashland Global Holdings during the third quarter valued at $104,000. Bollard Group LLC purchased a new position in Ashland Global Holdings during the third quarter valued at $107,000. Penserra Capital Management LLC increased its position in Ashland Global Holdings by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,008 shares of the company’s stock valued at $116,000 after buying an additional 504 shares during the period. Advisor Group Inc. increased its position in Ashland Global Holdings by 6.4% in the third quarter. Advisor Group Inc. now owns 1,267 shares of the company’s stock valued at $122,000 after buying an additional 76 shares during the period. Finally, Creative Planning increased its position in Ashland Global Holdings by 49.0% in the third quarter. Creative Planning now owns 1,486 shares of the company’s stock valued at $172,000 after buying an additional 489 shares during the period. Institutional investors and hedge funds own 86.96% of the company’s stock.
Shares of Ashland Global Holdings Inc. (NYSE:ASH) traded up 0.22% during trading on Friday, reaching $121.05. The company had a trading volume of 138,925 shares. The firm’s 50 day moving average price is $114.72 and its 200 day moving average price is $114.35. The firm’s market capitalization is $7.53 billion. Ashland Global Holdings Inc. has a 12 month low of $90.63 and a 12 month high of $125.00.
Ashland Global Holdings (NYSE:ASH) last posted its quarterly earnings data on Thursday, January 26th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.25. The firm earned $1.20 billion during the quarter, compared to the consensus estimate of $1.11 billion. Ashland Global Holdings had a positive return on equity of 14.29% and a negative net margin of 2.39%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. Equities analysts predict that Ashland Global Holdings Inc. will post $4.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, February 27th. Ashland Global Holdings’s dividend payout ratio is presently -79.59%.
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ASH has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $127.00 target price on shares of Ashland Global Holdings in a research report on Wednesday, February 1st. Zacks Investment Research upgraded Ashland Global Holdings from a “strong sell” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, January 31st. Deutsche Bank AG restated a “buy” rating and issued a $125.00 target price on shares of Ashland Global Holdings in a research report on Monday, November 28th. TheStreet downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Finally, Credit Suisse Group set a $119.00 target price on Ashland Global Holdings and gave the company a “hold” rating in a research report on Tuesday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Ashland Global Holdings currently has a consensus rating of “Hold” and a consensus target price of $125.75.
In other Ashland Global Holdings news, insider William J. Heitman sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.27% of the stock is owned by corporate insiders.
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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