Clearbridge Investments LLC increased its position in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 14.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 669,573 shares of the basic materials company’s stock after buying an additional 82,895 shares during the quarter. Clearbridge Investments LLC’s holdings in Ashland Global were worth $58,588,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Ashland Global by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,907,702 shares of the basic materials company’s stock worth $516,925,000 after purchasing an additional 127,752 shares in the last quarter. Franklin Resources Inc. grew its position in Ashland Global by 128.2% during the 2nd quarter. Franklin Resources Inc. now owns 3,467,402 shares of the basic materials company’s stock worth $303,397,000 after purchasing an additional 1,947,757 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ashland Global by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,837,264 shares of the basic materials company’s stock worth $160,761,000 after purchasing an additional 110,133 shares in the last quarter. FMR LLC grew its position in Ashland Global by 11.9% during the 2nd quarter. FMR LLC now owns 1,475,110 shares of the basic materials company’s stock worth $129,072,000 after purchasing an additional 156,309 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Ashland Global by 21.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,454,629 shares of the basic materials company’s stock worth $127,280,000 after purchasing an additional 258,821 shares in the last quarter. 93.56% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on ASH. BMO Capital Markets lowered their price objective on shares of Ashland Global from $113.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 29th. Wells Fargo & Company boosted their price target on shares of Ashland Global from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, October 1st. JPMorgan Chase & Co. upgraded shares of Ashland Global to a “hold” rating and set a $90.00 price target on the stock in a report on Thursday, August 5th. Stifel Nicolaus assumed coverage on shares of Ashland Global in a report on Thursday, June 17th. They set a “buy” rating and a $118.00 price target on the stock. Finally, Mizuho assumed coverage on shares of Ashland Global in a report on Tuesday. They set a “buy” rating and a $116.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $105.22.
Ashland Global stock opened at $94.71 on Thursday. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 32.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.05 and a quick ratio of 1.19. Ashland Global Holdings Inc. has a fifty-two week low of $68.17 and a fifty-two week high of $95.96. The firm has a fifty day moving average price of $89.40 and a two-hundred day moving average price of $89.18.
Ashland Global (NYSE:ASH) last released its earnings results on Monday, July 26th. The basic materials company reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.07). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $635.39 million. Ashland Global had a return on equity of 7.72% and a net margin of 7.60%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. As a group, sell-side analysts expect that Ashland Global Holdings Inc. will post 4.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Tuesday, August 31st. Ashland Global’s dividend payout ratio is currently 42.86%.
Ashland Global Company Profile
Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Consumer Specialties; Industrial Specialties; and Other.
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