Virtu Financial LLC raised its position in shares of Ashland Global Holdings Inc (NYSE:ASH) by 137.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,975 shares of the basic materials company’s stock after acquiring an additional 4,032 shares during the period. Virtu Financial LLC’s holdings in Ashland Global were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Creative Planning bought a new position in shares of Ashland Global in the third quarter worth about $206,000. Commerce Bank bought a new position in shares of Ashland Global in the third quarter worth about $209,000. Brown Advisory Inc. bought a new position in shares of Ashland Global in the second quarter worth about $200,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ashland Global in the second quarter worth about $221,000. Finally, Alps Advisors Inc. bought a new position in shares of Ashland Global in the second quarter worth about $223,000. Institutional investors and hedge funds own 93.00% of the company’s stock.
A number of research firms have recently commented on ASH. Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Ashland Global from $81.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. UBS Group upped their price target on shares of Ashland Global from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Credit Suisse Group set a $95.00 price target on shares of Ashland Global and gave the stock a “buy” rating in a report on Friday, September 21st. Finally, Deutsche Bank upped their price target on shares of Ashland Global from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Ashland Global has an average rating of “Buy” and a consensus target price of $92.50.
In other Ashland Global news, CFO J Kevin Willis sold 2,046 shares of the stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $80.34, for a total transaction of $164,375.64. Following the transaction, the chief financial officer now directly owns 3,168 shares in the company, valued at approximately $254,517.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Keith C. Silverman sold 2,286 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total transaction of $193,647.06. Following the transaction, the vice president now owns 4,183 shares in the company, valued at $354,341.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,353 shares of company stock worth $1,418,052. 1.14% of the stock is owned by company insiders.
Shares of Ashland Global stock opened at $76.33 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. Ashland Global Holdings Inc has a 1 year low of $64.81 and a 1 year high of $86.63. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33.
Ashland Global (NYSE:ASH) last issued its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.97. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. The company had revenue of $956.00 million for the quarter, compared to analysts’ expectations of $926.50 million. During the same period in the prior year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Ashland Global Holdings Inc will post 3.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, November 30th. Ashland Global’s payout ratio is 27.93%.
Ashland Global Company Profile
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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