Schwab Charles Investment Management Inc. Raises Position in Ashland Global Holdings Inc. (ASH)

Schwab Charles Investment Management Inc. boosted its holdings in Ashland Global Holdings Inc. (NYSE:ASH) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 415,154 shares of the basic materials company’s stock after acquiring an additional 10,723 shares during the period. Schwab Charles Investment Management Inc. owned 0.67% of Ashland Global worth $27,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boussard & Gavaudan Investment Management LLP acquired a new stake in Ashland Global in the 3rd quarter valued at about $6,850,000. Neuberger Berman Group LLC boosted its stake in shares of Ashland Global by 12.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,336,608 shares of the basic materials company’s stock worth $88,096,000 after purchasing an additional 148,879 shares during the last quarter. Condor Capital Management boosted its stake in shares of Ashland Global by 92.7% during the 2nd quarter. Condor Capital Management now owns 26,801 shares of the basic materials company’s stock worth $1,766,000 after purchasing an additional 12,895 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Ashland Global during the 2nd quarter worth about $271,000. Finally, Atlantic Trust Group LLC boosted its stake in shares of Ashland Global by 4.8% during the 2nd quarter. Atlantic Trust Group LLC now owns 63,161 shares of the basic materials company’s stock worth $4,163,000 after purchasing an additional 2,913 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ashland Global Holdings Inc. (NYSE:ASH) opened at $71.03 on Wednesday. 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 $53.79 and a 12-month high of $74.75. The stock has a market cap of $4,400.54, a P/E ratio of 15.79, a P/E/G ratio of 2.07 and a beta of 1.10.

Ashland Global (NYSE:ASH) last released its earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million during the quarter, compared to analyst estimates of $869.62 million. During the same period in the prior year, the business posted $1.52 earnings per share. Ashland Global’s revenue was up 16.7% on a year-over-year basis. analysts anticipate that Ashland Global Holdings Inc. will post 3.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.225 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. Ashland Global’s dividend payout ratio is presently -9,000,000.00%.

In related news, insider Peter Ganz sold 3,379 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $70.63, for a total value of $238,658.77. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO J Kevin Willis sold 8,152 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $70.70, for a total transaction of $576,346.40. The disclosure for this sale can be found here. Insiders sold 16,342 shares of company stock worth $1,148,839 over the last three months. Corporate insiders own 1.14% of the company’s stock.

Several equities research analysts have issued reports on the stock. SunTrust Banks raised their price target on shares of Ashland Global to $83.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Credit Suisse Group raised their price target on shares of Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. Deutsche Bank raised their price target on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, UBS raised their price target on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Ashland Global presently has a consensus rating of “Hold” and a consensus price target of $82.57.

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About Ashland Global

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

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