Pitcairn Co. Cuts Position in Ashland Global Holdings Inc. (ASH)

Pitcairn Co. decreased its position in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 57.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,937 shares of the company’s stock after selling 3,935 shares during the period. Pitcairn Co.’s holdings in Ashland Global Holdings were worth $321,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Ashland Global Holdings by 3.5% in the third quarter. Rhumbline Advisers now owns 113,827 shares of the company’s stock worth $13,198,000 after buying an additional 3,878 shares during the last quarter. Emerald Acquisition Ltd. increased its stake in Ashland Global Holdings by 8.9% in the third quarter. Emerald Acquisition Ltd. now owns 112,364 shares of the company’s stock worth $13,029,000 after buying an additional 9,164 shares during the last quarter. Hitchwood Capital Management LP increased its stake in Ashland Global Holdings by 50.0% in the third quarter. Hitchwood Capital Management LP now owns 750,000 shares of the company’s stock worth $86,963,000 after buying an additional 250,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Ashland Global Holdings by 142.0% in the third quarter. TIAA CREF Investment Management LLC now owns 392,922 shares of the company’s stock worth $45,559,000 after buying an additional 230,562 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its stake in Ashland Global Holdings by 1.2% in the third quarter. Manning & Napier Advisors LLC now owns 2,145,047 shares of the company’s stock worth $248,717,000 after buying an additional 25,964 shares during the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.

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

Ashland Global Holdings Inc. (NYSE:ASH) traded up 1.98% during mid-day trading on Monday, hitting $121.03. The company had a trading volume of 245,931 shares. The stock’s market capitalization is $7.53 billion. The stock has a 50 day moving average price of $113.58 and a 200-day moving average price of $114.19. Ashland Global Holdings Inc. has a 1-year low of $89.58 and a 1-year high of $125.00.

Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Thursday, January 26th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.25. Ashland Global Holdings had a negative net margin of 2.39% and a positive return on equity of 14.29%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts forecast that Ashland Global Holdings Inc. will post $4.41 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $1.56 annualized dividend and a dividend yield of 1.29%. Ashland Global Holdings’s dividend payout ratio is currently -79.59%.

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A number of equities research analysts have weighed in on ASH shares. Deutsche Bank AG restated a “buy” rating and set a $125.00 price target on shares of Ashland Global Holdings in a research report on Monday, November 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $129.00 price objective (down from $140.00) on shares of Ashland Global Holdings in a research note on Wednesday, November 23rd. Zacks Investment Research raised Ashland Global Holdings from a “strong sell” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Tuesday, January 31st. TheStreet cut Ashland Global Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Finally, Credit Suisse Group set a $119.00 price objective on Ashland Global Holdings and gave the company a “hold” rating in a research note on Tuesday, November 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $125.75.

In related news, CFO J Kevin Willis sold 1,555 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $106.84, for a total value of $166,136.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William J. Heitman sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. The disclosure for this sale can be found here. 1.27% of the stock is owned by company insiders.

Ashland Global Holdings Company Profile

Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.

5 Day Chart for NYSE:ASH

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