Cramer Rosenthal Mcglynn LLC reduced its stake in Ashland Global Holdings Inc. (NYSE:ASH) by 4.6% during the 4th quarter, Holdings Channel reports. The firm owned 279,215 shares of the basic materials company’s stock after selling 13,325 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Ashland Global were worth $19,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in ASH. Sawyer & Company Inc acquired a new position in shares of Ashland Global in the fourth quarter valued at about $157,000. Chicago Partners Investment Group LLC grew its stake in shares of Ashland Global by 600.3% in 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 acquiring an additional 1,999 shares in the last quarter. Good Life Advisors LLC acquired a new position in shares of Ashland Global in the fourth quarter valued at about $234,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ashland Global by 57.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the basic materials company’s stock valued at $240,000 after acquiring an additional 1,222 shares in the last quarter. Finally, Commonwealth Equity Services Inc acquired a new position in shares of Ashland Global in the third quarter valued at about $234,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.
Several equities analysts recently commented on ASH shares. Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “strong sell” rating in a research note on Monday, January 15th. SunTrust Banks upped their price target on shares of Ashland Global to $83.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Credit Suisse Group upped their price target on shares of Ashland Global from $69.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Monness Crespi & Hardt downgraded shares of Ashland Global from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 31st. Finally, Seaport Global Securities restated a “buy” rating and issued a $81.00 price target on shares of Ashland Global in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $83.00.
Shares of Ashland Global Holdings Inc. (NYSE:ASH) opened at $71.68 on Wednesday. The stock has a market cap of $4,525.28, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.29 and a current ratio of 1.96. Ashland Global Holdings Inc. has a one year low of $59.80 and a one year high of $77.16.
Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $842.05 million. Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. During the same quarter in the previous year, the company earned $1.16 earnings per share. equities analysts predict that Ashland Global Holdings Inc. will post 3.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Ashland Global’s payout ratio is -1,500.00%.
In other Ashland Global news, insider William J. Heitman sold 4,495 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $70.31, for a total transaction of $316,043.45. Following the sale, the insider now directly owns 15,152 shares in the company, valued at $1,065,337.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anne T. Schumann sold 11,733 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $73.26, for a total transaction of $859,559.58. The disclosure for this sale can be found here. Insiders have sold 24,735 shares of company stock worth $1,800,527 over the last quarter. Corporate insiders own 1.14% of the company’s stock.
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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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