Ontario Teachers Pension Plan Board raised its position in Ashland Global Holdings Inc (NYSE:ASH) by 155.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,759 shares of the basic materials company’s stock after buying an additional 7,760 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Ashland Global were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ASH. York Capital Management Global Advisors LLC purchased a new stake in shares of Ashland Global during the fourth quarter worth approximately $58,724,000. Norges Bank purchased a new stake in shares of Ashland Global during the fourth quarter worth approximately $37,927,000. Diamond Hill Capital Management Inc. raised its stake in shares of Ashland Global by 22.4% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,207,397 shares of the basic materials company’s stock worth $110,524,000 after purchasing an additional 404,657 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ashland Global by 119.2% during the first quarter. Russell Investments Group Ltd. now owns 349,965 shares of the basic materials company’s stock worth $17,582,000 after purchasing an additional 190,339 shares during the last quarter. Finally, Aperture Investors LLC purchased a new stake in shares of Ashland Global during the first quarter worth approximately $8,245,000. Institutional investors own 91.29% of the company’s stock.
Shares of ASH stock opened at $64.01 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.69 and a quick ratio of 1.06. The firm has a market capitalization of $3.86 billion, a PE ratio of -48.49, a P/E/G ratio of 2.78 and a beta of 1.45. Ashland Global Holdings Inc has a 1-year low of $38.88 and a 1-year high of $81.82. The business’s fifty day moving average price is $57.04 and its 200 day moving average price is $68.21.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, May 29th. Ashland Global’s dividend payout ratio (DPR) is 44.00%.
Several equities research analysts have recently commented on the company. ValuEngine cut Ashland Global from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Jefferies Financial Group cut Ashland Global from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. Zacks Investment Research upgraded Ashland Global from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 30th. UBS Group upped their price objective on Ashland Global from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, TheStreet lowered Ashland Global from a “c” rating to a “d+” rating in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $76.00.
About Ashland Global
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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