Tower Research Capital LLC TRC purchased a new position in Ashland Global Holdings Inc (NYSE:ASH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,513 shares of the basic materials company’s stock, valued at approximately $76,000.
Several other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Ashland Global by 601.3% during the 1st quarter. Invesco Ltd. now owns 562,187 shares of the basic materials company’s stock valued at $28,149,000 after purchasing an additional 482,023 shares during the period. Tudor Investment Corp Et Al bought a new stake in shares of Ashland Global during the 1st quarter valued at $209,000. Schroder Investment Management Group raised its position in shares of Ashland Global by 3.1% during the 1st quarter. Schroder Investment Management Group now owns 1,274,250 shares of the basic materials company’s stock valued at $64,082,000 after purchasing an additional 37,984 shares during the period. Morgan Stanley raised its position in shares of Ashland Global by 725.0% during the 1st quarter. Morgan Stanley now owns 631,897 shares of the basic materials company’s stock valued at $31,639,000 after purchasing an additional 555,300 shares during the period. Finally, Cipher Capital LP bought a new stake in shares of Ashland Global during the 1st quarter valued at $1,004,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Several brokerages have recently commented on ASH. JPMorgan Chase & Co. upgraded shares of Ashland Global from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $62.00 in a research report on Thursday, May 7th. TheStreet upgraded shares of Ashland Global from a “d+” rating to a “c-” rating in a research report on Thursday, June 18th. ValuEngine downgraded shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Wells Fargo & Co lifted their price target on shares of Ashland Global from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, UBS Group lifted their price target on shares of Ashland Global from $68.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $77.00.
Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. Ashland Global had a negative net margin of 3.05% and a positive return on equity of 4.63%. The business had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $618.75 million. During the same period last year, the company posted $0.83 EPS. The business’s revenue was down 8.5% on a year-over-year basis. As a group, analysts forecast that Ashland Global Holdings Inc will post 2.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.275 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.59%. Ashland Global’s payout ratio is currently 44.00%.
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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