Investors Purchase High Volume of Ashland Global Call Options (ASH)

Ashland Global Holdings Inc (NYSE:ASH) was the recipient of unusually large options trading activity on Tuesday. Traders bought 10,469 call options on the stock. This represents an increase of approximately 6,833% compared to the average daily volume of 151 call options.

Several research firms have commented on ASH. Credit Suisse Group upped their target price on shares of Ashland Global from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. UBS Group increased their price objective on shares of Ashland Global from $93.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price objective on shares of Ashland Global in a report on Friday, July 20th. Finally, KeyCorp reiterated a “buy” rating and issued a $93.00 price objective on shares of Ashland Global in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.00.

In other Ashland Global news, VP Keith C. Silverman sold 2,286 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total value of $193,647.06. Following the completion of the transaction, the vice president now owns 4,183 shares in the company, valued at approximately $354,341.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.14% of the stock is currently owned by corporate insiders.



Several institutional investors have recently bought and sold shares of the company. First Financial Bank Trust Division lifted its stake in Ashland Global by 1.2% during the third quarter. First Financial Bank Trust Division now owns 54,076 shares of the basic materials company’s stock valued at $4,535,000 after purchasing an additional 642 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in Ashland Global by 17.8% during the third quarter. Fox Run Management L.L.C. now owns 4,330 shares of the basic materials company’s stock valued at $363,000 after purchasing an additional 654 shares during the last quarter. United Services Automobile Association lifted its stake in Ashland Global by 7.0% during the second quarter. United Services Automobile Association now owns 11,310 shares of the basic materials company’s stock valued at $884,000 after purchasing an additional 737 shares during the last quarter. Raymond James & Associates lifted its stake in Ashland Global by 12.4% during the second quarter. Raymond James & Associates now owns 6,877 shares of the basic materials company’s stock valued at $538,000 after purchasing an additional 761 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Ashland Global by 2.3% during the third quarter. Arizona State Retirement System now owns 44,326 shares of the basic materials company’s stock valued at $3,717,000 after purchasing an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.

Ashland Global stock opened at $73.98 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.25 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.60 billion, a PE ratio of 30.32, a P/E/G ratio of 1.83 and a beta of 1.19. Ashland Global has a 12-month low of $64.13 and a 12-month high of $86.63.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.10. The business had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $1 billion. Ashland Global had a net margin of 1.28% and a return on equity of 6.36%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share. As a group, sell-side analysts anticipate that Ashland Global will post 3.58 EPS for the current fiscal year.

About Ashland Global

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

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