State Treasurer State of Michigan reduced its holdings in Ashland Global Holdings Inc. (NYSE:ASH) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,453 shares of the basic materials company’s stock after selling 2,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Ashland Global Holdings were worth $1,534,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in ASH. Creative Planning boosted its stake in shares of Ashland Global Holdings by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 101 shares during the last quarter. Sciencast Management LP bought a new position in Ashland Global Holdings during the second quarter worth $271,000. Trexquant Investment LP bought a new position in Ashland Global Holdings during the second quarter worth $290,000. World Asset Management Inc boosted its stake in Ashland Global Holdings by 2.4% during the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 104 shares in the last quarter. Finally, Shelton Capital Management bought a new position in Ashland Global Holdings during the second quarter worth $308,000. Hedge funds and other institutional investors own 94.23% of the company’s stock.
Several research analysts recently issued reports on the stock. Deutsche Bank AG increased their target price on shares of Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a report on Friday, November 10th. Jefferies Group LLC restated a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a report on Sunday, July 30th. TheStreet downgraded shares of Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. Finally, BidaskClub downgraded shares of Ashland Global Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $81.29.
Shares of Ashland Global Holdings Inc. (NYSE ASH) traded down $0.43 during trading hours on Wednesday, reaching $66.67. 557,100 shares of the company’s stock were exchanged, compared to its average volume of 903,772. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31. Ashland Global Holdings Inc. has a 12-month low of $53.41 and a 12-month high of $69.33. The company has a market capitalization of $4,187.20, a price-to-earnings ratio of 14.98, a PEG ratio of 1.95 and a beta of 1.07.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $880.00 million during the quarter, compared to the consensus estimate of $869.62 million. During the same quarter last year, the business posted $1.52 earnings per share. Ashland Global Holdings’s revenue was up 16.7% compared to the same quarter last year. sell-side analysts expect that Ashland Global Holdings Inc. will post 3.44 EPS for the current year.
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.
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