Ladenburg Thalmann Financial Services Inc. Raises Position in Ashland Global Holdings Inc (NYSE:ASH)

Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Ashland Global Holdings Inc (NYSE:ASH) by 216.7% during the second quarter, HoldingsChannel reports. The firm owned 2,052 shares of the basic materials company’s stock after buying an additional 1,404 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Ashland Global were worth $164,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ASH. First Financial Bank Trust Division raised its position in Ashland Global by 2.4% during the second quarter. First Financial Bank Trust Division now owns 57,246 shares of the basic materials company’s stock valued at $4,578,000 after purchasing an additional 1,352 shares during the period. WINTON GROUP Ltd raised its position in Ashland Global by 25.4% during the second quarter. WINTON GROUP Ltd now owns 465,396 shares of the basic materials company’s stock valued at $37,218,000 after purchasing an additional 94,373 shares during the period. Douglass Winthrop Advisors LLC raised its position in Ashland Global by 70.5% during the second quarter. Douglass Winthrop Advisors LLC now owns 20,455 shares of the basic materials company’s stock valued at $1,636,000 after purchasing an additional 8,455 shares during the period. Wiley BROS. Aintree Capital LLC raised its holdings in shares of Ashland Global by 18.5% in the second quarter. Wiley BROS. Aintree Capital LLC now owns 3,525 shares of the basic materials company’s stock worth $282,000 after buying an additional 550 shares during the period. Finally, Leisure Capital Management raised its holdings in shares of Ashland Global by 6.3% in the second quarter. Leisure Capital Management now owns 10,046 shares of the basic materials company’s stock worth $803,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 95.89% of the company’s stock.

Several equities research analysts have recently weighed in on the company. SunTrust Banks reduced their price target on Ashland Global from $95.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. They noted that the move was a valuation call. Buckingham Research increased their price target on Ashland Global from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Monness Crespi & Hardt upgraded Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Monday, October 14th. Zacks Investment Research downgraded Ashland Global from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Credit Suisse Group set a $92.00 price target on Ashland Global and gave the stock a “buy” rating in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $87.38.

Shares of NYSE ASH opened at $77.05 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.43 and a current ratio of 2.02. The business’s 50 day moving average price is $76.10 and its 200-day moving average price is $76.53. Ashland Global Holdings Inc has a fifty-two week low of $64.93 and a fifty-two week high of $84.81. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.11 and a beta of 1.27.

Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.77 earnings per share 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 firm had revenue of $641.00 million for the quarter, compared to the consensus estimate of $640.29 million. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts predict that Ashland Global Holdings Inc will post 2.71 earnings per share for the current year.

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

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