Stock Traders Buy High Volume of Ashland Global Put Options (ASH)

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Ashland Global Holdings Inc (NYSE:ASH) was the target of unusually large options trading activity on Wednesday. Traders purchased 1,995 put options on the company. This is an increase of 1,782% compared to the average daily volume of 106 put options.

A number of analysts have recently issued reports on the stock. Deutsche Bank increased their price target on shares of Ashland Global from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research lowered shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Credit Suisse Group set a $97.00 price target on shares of Ashland Global and gave the stock a “buy” rating in a research report on Friday, December 14th. Buckingham Research assumed coverage on shares of Ashland Global in a research report on Monday, December 17th. They issued a “neutral” rating for the company. Finally, TheStreet lowered shares of Ashland Global from a “b” rating to a “c+” rating in a research report on Wednesday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $90.58.

In other news, VP Keith C. Silverman sold 322 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $81.57, for a total value of $26,265.54. Following the completion of the sale, the vice president now directly owns 3,380 shares of the company’s stock, valued at $275,706.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Keith C. Silverman sold 498 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $81.67, for a total transaction of $40,671.66. Following the completion of the sale, the vice president now directly owns 3,380 shares of the company’s stock, valued at $276,044.60. The disclosure for this sale can be found here. Insiders sold 15,067 shares of company stock valued at $1,224,405 over the last three months. 1.14% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC raised its position in Ashland Global by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 1,000 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 500 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Ashland Global in the third quarter valued at approximately $138,000. Creative Planning bought a new position in shares of Ashland Global in the third quarter valued at approximately $206,000. Commerce Bank bought a new position in shares of Ashland Global in the third quarter valued at approximately $209,000. Finally, Raymond James Trust N.A. bought a new position in shares of Ashland Global in the third quarter valued at approximately $240,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ASH opened at $75.90 on Friday. The company has a market cap of $4.76 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.36 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.59. Ashland Global has a twelve month low of $64.81 and a twelve month high of $86.63.

Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $956.00 million for the quarter, compared to analyst estimates of $926.50 million. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. Analysts predict that Ashland Global will post 3.23 earnings per share for the current year.

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About Ashland Global

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.

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