First Financial Bank Trust Division Acquires Shares of 33,007 Ashland Global Holdings Inc. (ASH)
First Financial Bank Trust Division acquired a new stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,007 shares of the basic materials company’s stock, valued at approximately $2,350,000. First Financial Bank Trust Division owned approximately 0.05% of Ashland Global at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its position in Ashland Global by 600.3% during the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 1,999 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in Ashland Global during the third quarter valued at about $234,000. Sciencast Management LP bought a new stake in Ashland Global during the second quarter valued at about $271,000. Leavell Investment Management Inc. bought a new stake in Ashland Global during the third quarter valued at about $294,000. Finally, Shelton Capital Management bought a new stake in Ashland Global during the second quarter valued at about $308,000. 91.69% of the stock is currently owned by institutional investors.
Shares of Ashland Global Holdings Inc. (NYSE:ASH) traded down $0.29 during midday trading on Tuesday, reaching $71.20. The company’s stock had a trading volume of 350,700 shares, compared to its average volume of 875,192. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97. The firm has a market capitalization of $4,430.40, a P/E ratio of -7,120,000.00, a PEG ratio of 2.08 and a beta of 1.11. Ashland Global Holdings Inc. has a fifty-two week low of $54.08 and a fifty-two week high of $74.75.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, November 30th. Ashland Global’s dividend payout ratio (DPR) is -9,000,000.00%.
In related news, CFO J Kevin Willis sold 8,152 shares of Ashland Global stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $70.70, for a total transaction of $576,346.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Ganz sold 3,379 shares of Ashland Global stock in a transaction dated 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 16,342 shares of company stock valued at $1,148,839 in the last ninety days. Corporate insiders own 1.14% of the company’s stock.
Several equities research analysts have weighed in on ASH shares. Deutsche Bank raised their price target on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. UBS Group raised their price target on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, October 24th. Jefferies Group reissued a “buy” rating and issued a $77.00 price target (up previously from $74.00) on shares of Ashland Global in a report on Tuesday, September 26th. Finally, SunTrust Banks reissued a “buy” rating and issued a $74.00 price target on shares of Ashland Global in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Ashland Global presently has an average rating of “Hold” and a consensus price target of $82.57.
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About Ashland Global
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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