Ashland Global Holdings Inc. (ASH) Declares $0.23 Quarterly Dividend
Ashland Global Holdings Inc. (NYSE:ASH) declared a quarterly dividend on Wednesday, November 15th, NASDAQ reports. Investors of record on Friday, December 1st will be paid a dividend of 0.225 per share by the basic materials company on Friday, December 15th. This represents a $0.90 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, November 30th.
Ashland Global Holdings has increased its dividend payment by an average of 7.8% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Ashland Global Holdings has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ashland Global Holdings to earn $3.97 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 22.7%.
Shares of Ashland Global Holdings (ASH) traded up $0.65 during trading on Friday, reaching $70.81. The company had a trading volume of 147,573 shares, compared to its average volume of 601,617. The stock has a market capitalization of $4,360.00, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. Ashland Global Holdings has a 52 week low of $59.80 and a 52 week high of $128.19. The company has a quick ratio of 1.31, a current ratio of 1.97 and a debt-to-equity ratio of 0.76.
Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. The business had revenue of $880.00 million during the quarter, compared to analysts’ expectations of $869.62 million. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 earnings per share. equities research analysts predict that Ashland Global Holdings will post 3.42 earnings per share for the current fiscal year.
Several brokerages recently weighed in on ASH. Zacks Investment Research lowered Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $74.00 price objective on shares of Ashland Global Holdings in a research report on Friday, November 10th. Credit Suisse Group increased their price objective on Ashland Global Holdings from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Deutsche Bank AG increased their price objective on Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, UBS AG increased their price objective on Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $81.29.
In other news, insider Peter Ganz sold 3,379 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $70.63, for a total transaction of $238,658.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO J Kevin Willis sold 2,543 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $70.63, for a total value of $179,612.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,190 shares of company stock valued at $572,493. Company insiders own 1.27% of the company’s stock.
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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