FMR LLC reduced its position in shares of Ashland Global Holdings Inc (NYSE:ASH) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,225,612 shares of the basic materials company’s stock after selling 15,371 shares during the period. FMR LLC owned 1.95% of Ashland Global worth $95,756,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ASH. Vanguard Group Inc boosted its position in Ashland Global by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock valued at $480,582,000 after buying an additional 152,555 shares during the period. Canada Pension Plan Investment Board boosted its position in Ashland Global by 40.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 70,410 shares of the basic materials company’s stock valued at $4,996,000 after buying an additional 20,374 shares during the period. First Trust Advisors LP boosted its position in Ashland Global by 243.5% in the 4th quarter. First Trust Advisors LP now owns 35,848 shares of the basic materials company’s stock valued at $2,544,000 after buying an additional 25,412 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Ashland Global by 36.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock valued at $48,000 after buying an additional 182 shares during the period. Finally, Doyle Wealth Management purchased a new stake in Ashland Global in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.
ASH traded up $0.61 during midday trading on Friday, hitting $76.11. 496,962 shares of the company traded hands, compared to its average volume of 559,933. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. The stock has a market cap of $4.77 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.67 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 stock’s 50 day moving average price is $77.91.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Friday, August 30th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, August 29th. Ashland Global’s dividend payout ratio is currently 30.73%.
ASH has been the subject of several research reports. JPMorgan Chase & Co. set a $24.00 price objective on shares of Urovant Sciences and gave the company a “buy” rating in a research report on Friday, June 14th. TheStreet cut shares of Worthington Industries from a “b-” rating to a “c+” rating in a research report on Monday, June 10th. Credit Suisse Group set a $92.00 price objective on shares of Ashland Global and gave the company a “buy” rating in a research report on Friday, July 12th. ValuEngine raised shares of Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $91.13.
In other news, insider Peter Ganz sold 1,562 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $74.32, for a total value of $116,087.84. Following the transaction, the insider now directly owns 40,150 shares of the company’s stock, valued at $2,983,948. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.14% of the company’s stock.
Ashland Global 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.
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