Wedge Capital Management L L P NC lessened its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,518,302 shares of the basic materials company’s stock after selling 70,003 shares during the period. Ashland Global comprises approximately 1.3% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 7th biggest position. Wedge Capital Management L L P NC owned 2.52% of Ashland Global worth $116,196,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ASH. Usca Ria LLC purchased a new position in shares of Ashland Global during the third quarter valued at approximately $31,000. Old North State Trust LLC purchased a new position in shares of Ashland Global during the third quarter valued at approximately $38,000. Riverview Trust Co purchased a new position in shares of Ashland Global during the third quarter valued at approximately $44,000. Doyle Wealth Management purchased a new position in shares of Ashland Global during the second quarter valued at approximately $50,000. Finally, Pathstone Family Office LLC purchased a new position in shares of Ashland Global during the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 91.16% of the company’s stock.
Several research analysts have issued reports on ASH shares. Buckingham Research dropped their target price on Ashland Global from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Zacks Investment Research lowered Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Monday, December 23rd. ValuEngine lowered Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Wells Fargo & Co started coverage on Ashland Global in a research report on Tuesday, October 15th. They set an “outperform” rating and a $90.00 target price for the company. Finally, BMO Capital Markets lowered Ashland Global from an “outperform” rating to a “market perform” rating and set a $77.00 target price for the company. in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $85.13.
Shares of Ashland Global stock traded down $0.26 on Wednesday, hitting $74.98. 271,466 shares of the company traded hands, compared to its average volume of 443,267. The stock’s 50 day moving average price is $74.93 and its 200-day moving average price is $75.93. The company has a current ratio of 1.89, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. Ashland Global Holdings Inc has a 52 week low of $70.50 and a 52 week high of $81.22. The company has a market cap of $4.54 billion, a PE ratio of 29.99, a PEG ratio of 3.04 and a beta of 1.24.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Monday, November 18th. The basic materials company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.21). Ashland Global had a net margin of 20.26% and a return on equity of 4.64%. The company had revenue of $609.00 million for the quarter, compared to the consensus estimate of $644.53 million. During the same period in the prior year, the firm posted $0.97 EPS. The business’s revenue was down 9.0% on a year-over-year basis. As a group, research analysts anticipate that Ashland Global Holdings Inc will post 2.97 EPS for the current fiscal year.
In other news, insider William J. Heitman sold 509 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.99, for a total transaction of $40,205.91. Following the transaction, the insider now directly owns 6,594 shares of the company’s stock, valued at $520,860.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Peter Ganz sold 1,351 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.99, for a total value of $106,715.49. Following the transaction, the senior vice president now directly owns 40,738 shares in the company, valued at $3,217,894.62. The disclosure for this sale can be found here. Insiders have sold 3,982 shares of company stock valued at $314,538 in the last ninety days. Insiders own 9.33% of the company’s stock.
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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