Wiley BROS. Aintree Capital LLC Trims Stock Position in Ashland Global Holdings Inc (NYSE:ASH)

Wiley BROS. Aintree Capital LLC lessened its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 15.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,975 shares of the basic materials company’s stock after selling 550 shares during the quarter. Wiley BROS. Aintree Capital LLC’s holdings in Ashland Global were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Mcmillion Capital Management Inc. purchased a new position in Ashland Global in the second quarter valued at $28,000. Advisory Services Network LLC increased its holdings in Ashland Global by 213.4% in the second quarter. Advisory Services Network LLC now owns 351 shares of the basic materials company’s stock valued at $28,000 after buying an additional 239 shares in the last quarter. Executive Wealth Management LLC increased its holdings in Ashland Global by 738.2% in the second quarter. Executive Wealth Management LLC now owns 461 shares of the basic materials company’s stock valued at $37,000 after buying an additional 406 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Ashland Global in the second quarter valued at $40,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Ashland Global in the second quarter valued at $48,000. 95.93% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. SunTrust Banks cut their price objective on shares of Ashland Global from $95.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. They noted that the move was a valuation call. TheStreet cut shares of Ashland Global from a “b” rating to a “c” rating in a report on Monday, June 10th. Credit Suisse Group set a $92.00 price objective on shares of Ashland Global and gave the company a “buy” rating in a report on Friday, July 12th. Zacks Investment Research raised shares of Ashland Global from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price objective for the company. in a report on Friday, June 14th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Ashland Global currently has a consensus rating of “Buy” and a consensus target price of $87.83.

Shares of NYSE ASH traded up $1.09 during trading on Friday, hitting $75.53. The company had a trading volume of 214,682 shares, compared to its average volume of 682,889. The stock has a fifty day simple moving average of $74.67 and a two-hundred day simple moving average of $76.65. Ashland Global Holdings Inc has a fifty-two week low of $64.93 and a fifty-two week high of $84.81. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.71.

Ashland Global (NYSE:ASH) last announced its earnings results on Tuesday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Ashland Global had a net margin of 3.63% and a return on equity of 5.15%. The business had revenue of $641.00 million for the quarter, compared to analyst estimates of $640.29 million. During the same quarter last year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Ashland Global Holdings Inc will post 2.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Friday, August 30th were given a $0.275 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.10 annualized dividend and a dividend yield of 1.46%. Ashland Global’s dividend payout ratio (DPR) is 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.

Further Reading: Outperform Rating

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Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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