Handelsbanken Fonder AB Acquires 90,000 Shares of Ashland Global Holdings Inc. (ASH)

Handelsbanken Fonder AB boosted its position in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 180.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,000 shares of the basic materials company’s stock after purchasing an additional 90,000 shares during the period. Handelsbanken Fonder AB owned about 0.22% of Ashland Global worth $9,968,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Mutual of America Capital Management LLC grew its holdings in Ashland Global by 1.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 54,649 shares of the basic materials company’s stock valued at $3,891,000 after purchasing an additional 770 shares during the last quarter. American International Group Inc. grew its holdings in Ashland Global by 0.7% during the 4th quarter. American International Group Inc. now owns 128,574 shares of the basic materials company’s stock valued at $9,154,000 after purchasing an additional 913 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Ashland Global by 0.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 239,579 shares of the basic materials company’s stock valued at $17,058,000 after purchasing an additional 950 shares during the last quarter. California State Teachers Retirement System grew its holdings in Ashland Global by 0.9% during the 4th quarter. California State Teachers Retirement System now owns 107,881 shares of the basic materials company’s stock valued at $7,681,000 after purchasing an additional 999 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its holdings in Ashland Global by 2.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 49,715 shares of the basic materials company’s stock valued at $3,540,000 after purchasing an additional 1,108 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

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Ashland Global Holdings Inc. (NYSE:ASH) opened at $68.18 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.96 and a quick ratio of 1.29. The company has a market cap of $4,361.62, a PE ratio of -1,136.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. Ashland Global Holdings Inc. has a one year low of $59.80 and a one year high of $77.16.

Ashland Global (NYSE:ASH) last issued its earnings results on Monday, January 29th. The basic materials company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $842.05 million. Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. During the same quarter in the prior year, the company earned $1.16 earnings per share. sell-side analysts anticipate that Ashland Global Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Ashland Global declared that its board has initiated a share buyback plan on Tuesday, March 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. Ashland Global’s dividend payout ratio is presently -1,500.00%.

In other news, insider William J. Heitman sold 4,495 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $70.31, for a total transaction of $316,043.45. Following the transaction, the insider now directly owns 15,152 shares in the company, valued at $1,065,337.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Anne T. Schumann sold 8,507 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $73.46, for a total transaction of $624,924.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,735 shares of company stock worth $1,800,527. Insiders own 1.14% of the company’s stock.

Several equities analysts recently commented on the stock. Credit Suisse Group upgraded shares of Ashland Global from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Friday. Seaport Global Securities reiterated a “buy” rating and set a $81.00 price target on shares of Ashland Global in a report on Wednesday, January 31st. Monness Crespi & Hardt downgraded shares of Ashland Global from a “buy” rating to a “neutral” rating in a report on Wednesday, January 31st. Jefferies Group reiterated a “buy” rating on shares of Ashland Global in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded shares of Ashland Global from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $83.63.

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Ashland Global 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.

Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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