New York State Common Retirement Fund Sells 8,100 Shares of Ashland Global Holdings Inc (ASH)
New York State Common Retirement Fund lessened its position in Ashland Global Holdings Inc (NYSE:ASH) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,500 shares of the basic materials company’s stock after selling 8,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Ashland Global were worth $8,409,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. FNY Investment Advisers LLC increased its position in shares of Ashland Global by 100.0% during the 4th quarter. FNY Investment Advisers LLC now owns 1,000 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 500 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Ashland Global during the 3rd quarter worth approximately $138,000. Commerce Bank acquired a new position in shares of Ashland Global during the 3rd quarter worth approximately $209,000. Raymond James Trust N.A. acquired a new position in shares of Ashland Global during the 3rd quarter worth approximately $240,000. Finally, Wiley BROS. Aintree Capital LLC acquired a new position in shares of Ashland Global during the 4th quarter worth approximately $211,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.
ASH stock opened at $78.75 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 1.51 and a debt-to-equity ratio of 0.69. The company has a market cap of $4.91 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. Ashland Global Holdings Inc has a 1-year low of $64.81 and a 1-year high of $86.63.
Ashland Global (NYSE:ASH) last posted its earnings results on Tuesday, February 5th. The basic materials company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $576.00 million for the quarter, compared to analyst estimates of $585.78 million. Ashland Global had a return on equity of 6.17% and a net margin of 2.01%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS. Equities analysts forecast that Ashland Global Holdings Inc will post 3.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, February 28th. Ashland Global’s payout ratio is presently 27.93%.
Several research firms have weighed in on ASH. Deutsche Bank boosted their price target on Ashland Global from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research lowered Ashland Global from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Credit Suisse Group reissued a “buy” rating and set a $90.00 target price on shares of Ashland Global in a report on Monday, February 4th. Buckingham Research began coverage on Ashland Global in a report on Monday, December 17th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised Ashland Global from a “neutral” rating to an “overweight” rating and set a $68.23 target price on the stock in a report on Thursday, December 27th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.80.
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About Ashland Global
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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