CIBC Asset Management Inc lessened its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 20.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,160 shares of the basic materials company’s stock after selling 1,801 shares during the period. CIBC Asset Management Inc’s holdings in Ashland Global were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Boys Arnold & Co. Inc. grew its holdings in Ashland Global by 1.3% during the fourth quarter. Boys Arnold & Co. Inc. now owns 14,425 shares of the basic materials company’s stock worth $1,013,000 after acquiring an additional 180 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Ashland Global by 36.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 182 shares during the last quarter. Bank of Montreal Can grew its holdings in Ashland Global by 2.2% in the fourth quarter. Bank of Montreal Can now owns 9,336 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 202 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Ashland Global by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 83,593 shares of the basic materials company’s stock valued at $5,932,000 after purchasing an additional 252 shares during the last quarter. Finally, Ffcm LLC acquired a new stake in Ashland Global in the fourth quarter valued at $28,000. 92.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ASH opened at $78.30 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.51 and a debt-to-equity ratio of 0.69. Ashland Global Holdings Inc has a 52-week low of $64.81 and a 52-week high of $86.63. The firm has a market capitalization of $4.93 billion, a PE ratio of 21.87, a P/E/G ratio of 2.48 and a beta of 1.31.

Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Ashland Global had a return on equity of 6.17% and a net margin of 2.01%. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $585.78 million. During the same period in the prior year, the business earned $0.03 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, equities analysts anticipate that Ashland Global Holdings Inc will post 3.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Ashland Global’s dividend payout ratio is currently 27.93%.

In other news, insider Osama M. Musa sold 2,156 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $78.87, for a total value of $170,043.72. The sale was disclosed in a filing with the SEC, which is available through this link. 1.14% of the stock is owned by corporate insiders.

Several analysts have weighed in on ASH shares. 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. Deutsche Bank lowered their target price on Ashland Global from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, January 2nd. Zacks Investment Research lowered Ashland Global from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Credit Suisse Group set a $97.00 target price on Ashland Global and gave the company a “buy” rating in a report on Friday, December 14th. Finally, Buckingham Research started coverage on Ashland Global in a report on Monday, December 17th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average 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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Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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