State Board of Administration of Florida Retirement System increased its holdings in Ashland Global Holdings Inc (NYSE:ASH) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,079 shares of the basic materials company’s stock after purchasing an additional 756 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Ashland Global worth $6,564,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Condor Capital Management increased its stake in shares of Ashland Global by 2.7% in the second quarter. Condor Capital Management now owns 27,191 shares of the basic materials company’s stock worth $2,174,000 after purchasing an additional 714 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Ashland Global by 8.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 240,987 shares of the basic materials company’s stock valued at $19,272,000 after buying an additional 17,935 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Ashland Global by 2.3% in the 2nd quarter. Swiss National Bank now owns 116,500 shares of the basic materials company’s stock valued at $9,317,000 after buying an additional 2,600 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in Ashland Global in the 2nd quarter worth approximately $478,000. Finally, Executive Wealth Management LLC lifted its stake in Ashland Global by 738.2% during the 2nd quarter. Executive Wealth Management LLC now owns 461 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 406 shares during the period. 97.60% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on ASH shares. TheStreet cut shares of Ashland Global from a “b” rating to a “c” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. lowered shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research note on Friday, June 14th. They noted that the move was a valuation call. Buckingham Research increased their price target on shares of Ashland Global from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Credit Suisse Group set a $92.00 price objective on Ashland Global and gave the company a “buy” rating in a report on Friday, July 12th. Finally, ValuEngine raised Ashland Global from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $89.00.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Ashland Global had a return on equity of 5.15% and a net margin of 3.63%. The company had revenue of $641.00 million for the quarter, compared to the consensus estimate of $640.29 million. During the same period in the previous year, the business earned $0.77 EPS. Ashland Global’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect that Ashland Global Holdings Inc will post 2.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Friday, August 30th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.54%. Ashland Global’s dividend payout ratio (DPR) is presently 30.73%.
Ashland Global Profile
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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