Ashland Global Holdings Inc. (ASH) Shares Bought by Condor Capital Management
Condor Capital Management increased its position in Ashland Global Holdings Inc. (NYSE:ASH) by 92.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,801 shares of the basic materials company’s stock after buying an additional 12,895 shares during the period. Condor Capital Management’s holdings in Ashland Global Holdings were worth $1,766,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Ashland Global Holdings by 5,548.9% in the first quarter. BlackRock Inc. now owns 5,692,080 shares of the basic materials company’s stock worth $704,736,000 after buying an additional 5,591,315 shares in the last quarter. Evercore Trust Company N.A. raised its stake in shares of Ashland Global Holdings by 113.3% in the second quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock worth $143,580,000 after buying an additional 1,157,131 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Ashland Global Holdings during the second quarter worth approximately $54,562,000. Naya Capital Management UK Ltd. bought a new stake in shares of Ashland Global Holdings during the first quarter worth approximately $76,331,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Ashland Global Holdings during the second quarter worth approximately $38,765,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.
Shares of Ashland Global Holdings Inc. (NYSE ASH) traded down 0.55% during mid-day trading on Friday, reaching $61.71. 70,182 shares of the company traded hands. The firm’s market capitalization is $3.85 billion. The firm has a 50-day moving average price of $63.35 and a 200 day moving average price of $62.69. Ashland Global Holdings Inc. has a 52 week low of $59.80 and a 52 week high of $128.19.
Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The company had revenue of $870 million for the quarter, compared to the consensus estimate of $842.78 million. During the same quarter in the prior year, the company earned $1.95 EPS. Ashland Global Holdings’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Ashland Global Holdings Inc. will post $4.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.90 annualized dividend and a yield of 1.45%. Ashland Global Holdings’s dividend payout ratio (DPR) is presently -25.42%.
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Several analysts recently issued reports on ASH shares. Zacks Investment Research lowered shares of Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. ValuEngine upgraded shares of Ashland Global Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Credit Suisse Group restated a “neutral” rating and set a $65.00 target price (up from $59.69) on shares of Ashland Global Holdings in a research report on Wednesday, May 17th. TheStreet lowered shares of Ashland Global Holdings from a “b” rating to a “c” rating in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co boosted their target price on shares of Ashland Global Holdings from $61.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Ashland Global Holdings has an average rating of “Hold” and a consensus price target of $88.33.
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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