A number of other brokerages have also recently commented on ASH. Zacks Investment Research upgraded Ashland Global Holdings from a strong sell rating to a hold rating in a report on Tuesday, April 11th. Credit Suisse Group set a $122.00 target price on Ashland Global Holdings and gave the company a hold rating in a report on Thursday, April 27th. TheStreet upgraded Ashland Global Holdings from a c+ rating to a b rating in a report on Wednesday, April 26th. ValuEngine cut Ashland Global Holdings from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, JPMorgan Chase & Co. increased their target price on Ashland Global Holdings from $61.00 to $118.00 and gave the company a neutral rating in a report on Wednesday, May 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $117.20.
Shares of Ashland Global Holdings (NYSE:ASH) remained flat at $67.25 on Friday. 238,640 shares of the company were exchanged. The firm’s market capitalization is $4.18 billion. The stock has a 50 day moving average price of $80.49 and a 200-day moving average price of $108.66. Ashland Global Holdings has a 1-year low of $60.27 and a 1-year high of $128.19.
Ashland Global Holdings (NYSE:ASH) last announced its earnings results on Tuesday, April 25th. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.10. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ashland Global Holdings had a positive return on equity of 13.53% and a negative net margin of 2.26%. During the same quarter in the prior year, the firm earned $1.83 EPS. Equities analysts predict that Ashland Global Holdings will post $4.32 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Tuesday, May 30th. Ashland Global Holdings’s dividend payout ratio (DPR) is -48.13%.
In other news, VP Anne T. Schumann sold 4,003 shares of the firm’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $125.64, for a total transaction of $502,936.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.27% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of ASH. Envestnet Asset Management Inc. acquired a new stake in Ashland Global Holdings during the fourth quarter valued at about $113,000. Bollard Group LLC boosted its stake in Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock valued at $115,000 after buying an additional 3 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Ashland Global Holdings by 8.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,273 shares of the basic materials company’s stock valued at $143,000 after buying an additional 99 shares during the period. Creative Planning boosted its stake in Ashland Global Holdings by 0.3% in the first quarter. Creative Planning now owns 1,426 shares of the basic materials company’s stock valued at $177,000 after buying an additional 4 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock valued at $192,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 89.22% of the company’s stock.
About Ashland Global Holdings
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.
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