Dynamic Technology Lab Private Ltd Acquires Shares of 4,783 Ashland Global Holdings Inc. (ASH)
Dynamic Technology Lab Private Ltd acquired a new position in shares of Ashland Global Holdings Inc. (NYSE:ASH) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,783 shares of the basic materials company’s stock, valued at approximately $313,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Creative Planning boosted its position in Ashland Global by 7.1% during the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 101 shares during the period. Commonwealth Equity Services Inc bought a new position in Ashland Global during the third quarter worth about $234,000. Sciencast Management LP bought a new position in Ashland Global during the second quarter worth about $271,000. Trexquant Investment LP bought a new position in Ashland Global during the second quarter worth about $290,000. Finally, World Asset Management Inc boosted its position in Ashland Global by 2.4% during the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.
A number of equities analysts have weighed in on ASH shares. Zacks Investment Research upgraded shares of Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, October 24th. Credit Suisse Group increased their target price on shares of Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Jefferies Group reiterated a “buy” rating and set a $74.00 target price on shares of Ashland Global in a research report on Sunday, September 3rd. BidaskClub lowered shares of Ashland Global from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, SunTrust Banks increased their target price on shares of Ashland Global to $83.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.57.
Ashland Global Holdings Inc. (NYSE:ASH) opened at $73.50 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31. Ashland Global Holdings Inc. has a 1 year low of $53.79 and a 1 year high of $74.75. The company has a market cap of $4,567.48, a P/E ratio of 16.41, a PEG ratio of 2.15 and a beta of 1.10.
Ashland Global (NYSE:ASH) last released its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $880.00 million during the quarter, compared to the consensus estimate of $869.62 million. During the same quarter last year, the business posted $1.52 earnings per share. Ashland Global’s revenue was up 16.7% compared to the same quarter last year. analysts predict that Ashland Global Holdings Inc. will post 3.42 EPS 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 given a $0.225 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. Ashland Global’s dividend payout ratio (DPR) is currently -9,000,000.00%.
In related news, CFO J Kevin Willis sold 8,152 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $70.70, for a total value of $576,346.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Ganz sold 3,379 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $70.63, for a total transaction of $238,658.77. The disclosure for this sale can be found here. Insiders sold 16,342 shares of company stock valued at $1,148,839 over the last 90 days. 1.27% of the stock is owned by company insiders.
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Ashland Global 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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