Royal Bank of Canada trimmed its stake in Ashland Global Holdings Inc. (NYSE:ASH) by 5.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,801 shares of the basic materials company’s stock after selling 202 shares during the period. Royal Bank of Canada’s holdings in Ashland Global Holdings were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ASH. Wellington Management Group LLP increased its position in Ashland Global Holdings by 197.1% in the 1st quarter. Wellington Management Group LLP now owns 5,467 shares of the basic materials company’s stock worth $677,000 after buying an additional 3,627 shares during the period. Capstone Asset Management Co. increased its position in Ashland Global Holdings by 3.4% in the 2nd quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock worth $420,000 after buying an additional 208 shares during the period. Creative Planning increased its position in Ashland Global Holdings by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares during the period. Oregon Public Employees Retirement Fund increased its position in Ashland Global Holdings by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,852 shares of the basic materials company’s stock worth $1,506,000 after buying an additional 992 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Ashland Global Holdings by 3.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the basic materials company’s stock worth $1,068,000 after buying an additional 500 shares during the period. 94.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ashland Global Holdings Inc. (ASH) opened at $70.27 on Wednesday. Ashland Global Holdings Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $71.02. The firm has a market capitalization of $4,359.93, a P/E ratio of 15.66, a PEG ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.97, a quick ratio of 1.31 and a debt-to-equity ratio of 0.76.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 30th. Ashland Global Holdings’s payout ratio is presently -9,000,000.00%.

In other news, CFO J Kevin Willis sold 916 shares of Ashland Global Holdings stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $70.61, for a total transaction of $64,678.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Ganz sold 3,379 shares of Ashland Global Holdings stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $70.63, for a total value of $238,658.77. The disclosure for this sale can be found here. Insiders have sold a total of 8,190 shares of company stock worth $572,493 in the last three months. 1.27% of the stock is owned by insiders.

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Several research analysts have commented on ASH shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Ashland Global Holdings in a research report on Sunday, July 30th. BidaskClub downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. TheStreet downgraded Ashland Global Holdings from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. Deutsche Bank AG dropped their price target on Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Ashland Global Holdings from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Ashland Global Holdings currently has an average rating of “Hold” and a consensus target price of $81.29.

About Ashland Global Holdings

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.

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

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