Hilton Capital Management LLC Acquires New Position in Ashland Global Holdings Inc (NYSE:ASH)

Hilton Capital Management LLC purchased a new stake in Ashland Global Holdings Inc (NYSE:ASH) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 938 shares of the basic materials company’s stock, valued at approximately $73,000.

A number of other hedge funds also recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its stake in Ashland Global by 38.7% during the first quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock worth $187,524,000 after acquiring an additional 669,069 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Ashland Global by 564.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 671,495 shares of the basic materials company’s stock worth $56,345,000 after acquiring an additional 570,385 shares in the last quarter. Norges Bank acquired a new position in Ashland Global during the fourth quarter worth about $30,610,000. Millennium Management LLC increased its stake in shares of Ashland Global by 1,099.1% in the fourth quarter. Millennium Management LLC now owns 464,606 shares of the basic materials company’s stock valued at $32,968,000 after buying an additional 425,860 shares during the period. Finally, Naya Capital Management UK Ltd. increased its stake in shares of Ashland Global by 62.9% in the fourth quarter. Naya Capital Management UK Ltd. now owns 1,097,953 shares of the basic materials company’s stock valued at $77,911,000 after buying an additional 424,139 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. ValuEngine downgraded Ashland Global from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Zacks Investment Research raised Ashland Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. TheStreet cut Ashland Global from a “b” rating to a “c” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. cut Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 target price on the stock. in a report on Friday, June 14th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $90.88.

In related news, insider William J. Heitman sold 6,300 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.46, for a total value of $500,598.00. Following the completion of the sale, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $500,836.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Ganz sold 1,562 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $74.32, for a total value of $116,087.84. Following the completion of the sale, the insider now directly owns 40,150 shares of the company’s stock, valued at $2,983,948. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,065 shares of company stock worth $1,189,252. 1.14% of the stock is owned by company insiders.

Shares of Ashland Global stock traded down $0.36 on Friday, reaching $79.17. 286,628 shares of the company’s stock were exchanged, compared to its average volume of 597,568. The firm has a market cap of $4.96 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.66 and a beta of 1.25. Ashland Global Holdings Inc has a 52 week low of $64.93 and a 52 week high of $86.63. The business has a 50-day moving average price of $76.75. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.68.

Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The firm had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $680.96 million. During the same period in the prior year, the business earned $1.06 EPS. The company’s revenue for the quarter was down 31.5% compared to the same quarter last year. Sell-side analysts forecast that Ashland Global Holdings Inc will post 2.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Monday, June 3rd were issued a $0.275 dividend. This is a boost from Ashland Global’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, May 31st. Ashland Global’s dividend payout ratio (DPR) is currently 30.73%.

Ashland Global Company Profile

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.

See Also: Do back-end load funds outperform no-load funds?

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

Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.