Executive Wealth Management LLC grew its stake in Ashland Global Holdings Inc (NYSE:ASH) by 738.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 461 shares of the basic materials company’s stock after buying an additional 406 shares during the quarter. Executive Wealth Management LLC’s holdings in Ashland Global were worth $37,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Mcmillion Capital Management Inc. bought a new stake in shares of Ashland Global in the second quarter worth $28,000. Advisory Services Network LLC raised its position in Ashland Global by 213.4% during the second quarter. Advisory Services Network LLC now owns 351 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 239 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Ashland Global during the second quarter worth $40,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Ashland Global during the second quarter worth $48,000. Finally, Hilton Capital Management LLC bought a new stake in Ashland Global during the first quarter worth $73,000. Institutional investors own 98.97% of the company’s stock.
Several analysts have issued reports on ASH shares. Buckingham Research upped their price target on shares of Ashland Global from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Credit Suisse Group set a $92.00 price target on shares of Ashland Global and gave the stock a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research lowered shares of Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Monday, July 22nd. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. lowered shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research report on Friday, June 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Ashland Global has a consensus rating of “Hold” and an average price target of $89.33.
NYSE ASH opened at $71.09 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average price is $77.30 and its two-hundred day moving average price is $77.47. Ashland Global Holdings Inc has a 1 year low of $64.93 and a 1 year high of $86.53. The firm has a market capitalization of $4.48 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 2.68 and a beta of 1.24.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $641.00 million for the quarter, compared to analyst estimates of $640.29 million. Ashland Global had a net margin of 3.63% and a return on equity of 5.15%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, research analysts anticipate that Ashland Global Holdings Inc will post 2.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Friday, August 30th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, August 29th. Ashland Global’s payout ratio is presently 30.73%.
Ashland Global Profile
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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