HBK Investments L P lowered its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 90.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,121 shares of the basic materials company’s stock after selling 70,879 shares during the period. HBK Investments L P’s holdings in Ashland Global were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. California State Teachers Retirement System lifted its holdings in shares of 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. Two Sigma Investments LP lifted its holdings in shares of Ashland Global by 27,639.3% during the 4th quarter. Two Sigma Investments LP now owns 358,011 shares of the basic materials company’s stock valued at $25,490,000 after purchasing an additional 359,311 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Ashland Global by 104.4% during the 4th quarter. Two Sigma Advisers LP now owns 154,778 shares of the basic materials company’s stock valued at $11,020,000 after purchasing an additional 79,040 shares during the last quarter. York Capital Management Global Advisors LLC lifted its holdings in shares of Ashland Global by 11.0% during the 4th quarter. York Capital Management Global Advisors LLC now owns 1,014,666 shares of the basic materials company’s stock valued at $72,244,000 after purchasing an additional 100,334 shares during the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of Ashland Global during the 4th quarter valued at $403,000. Institutional investors own 93.57% of the company’s stock.
In other Ashland Global news, SVP Anne T. Schumann sold 8,507 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $73.46, for a total transaction of $624,924.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider William J. Heitman sold 4,495 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $70.31, for a total value of $316,043.45. Following the sale, the insider now directly owns 15,152 shares in the company, valued at $1,065,337.12. The disclosure for this sale can be found here. Insiders have sold a total of 24,735 shares of company stock worth $1,800,527 over the last ninety days. 1.14% of the stock is owned by insiders.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $842.00 million for the quarter, compared to analyst estimates 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 period in the prior year, the business posted $1.16 earnings per share. equities analysts anticipate that Ashland Global Holdings Inc. will post 3.2 earnings per share for the current fiscal year.
Ashland Global announced that its board has approved 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 often a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.32%. The ex-dividend date was Wednesday, February 28th. Ashland Global’s dividend payout ratio is currently -1,500.00%.
A number of equities analysts recently issued reports on the company. Jefferies Group restated a “buy” rating on shares of Ashland Global in a research note on Tuesday, January 30th. Seaport Global Securities restated a “buy” rating and issued a $81.00 target price on shares of Ashland Global in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Ashland Global from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Credit Suisse Group upgraded Ashland Global from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.18 to $79.00 in a research note on Friday. Finally, Monness Crespi & Hardt lowered Ashland Global from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $83.63.
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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