Leavell Investment Management Inc. lifted its stake in Ashland Global Holdings Inc (NYSE:ASH) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,850 shares of the basic materials company’s stock after acquiring an additional 1,000 shares during the period. Leavell Investment Management Inc.’s holdings in Ashland Global were worth $1,004,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boys Arnold & Co. Inc. increased its position in Ashland Global by 1.3% during the 4th quarter. Boys Arnold & Co. Inc. now owns 14,425 shares of the basic materials company’s stock valued at $1,013,000 after buying an additional 180 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Ashland Global by 36.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock valued at $48,000 after buying an additional 182 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Ashland Global by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the basic materials company’s stock valued at $1,313,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can increased its position in Ashland Global by 2.2% during the 4th quarter. Bank of Montreal Can now owns 9,336 shares of the basic materials company’s stock valued at $662,000 after buying an additional 202 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Ashland Global by 7.1% during the 4th quarter. Brown Advisory Inc. now owns 3,626 shares of the basic materials company’s stock valued at $257,000 after buying an additional 240 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.
Shares of ASH stock opened at $79.88 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 1.51 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $4.98 billion, a PE ratio of 22.31, a PEG ratio of 2.50 and a beta of 1.31. Ashland Global Holdings Inc has a fifty-two week low of $64.81 and a fifty-two week high of $86.63.
Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $576.00 million for the quarter, compared to analyst estimates of $585.78 million. Ashland Global had a return on equity of 6.17% and a net margin of 2.01%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Research analysts anticipate that Ashland Global Holdings Inc will post 3.18 EPS for the current year.
Several research analysts recently issued reports on the company. Credit Suisse Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Ashland Global in a research report on Monday, February 4th. Deutsche Bank reduced their target price on Ashland Global from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. raised Ashland Global from a “neutral” rating to an “overweight” rating and set a $68.23 target price on the stock in a research report on Thursday, December 27th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $89.80.
In other news, insider William J. Heitman sold 7,203 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $79.49, for a total value of $572,566.47. Following the transaction, the insider now directly owns 6,303 shares of the company’s stock, valued at $501,025.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Heitman sold 6,300 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.46, for a total value of $500,598.00. Following the completion of the transaction, the insider now directly owns 6,303 shares in the company, valued at $500,836.38. The disclosure for this sale can be found here. Insiders sold 15,659 shares of company stock worth $1,243,208 over the last three months. Corporate insiders own 1.14% of the company’s stock.
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Ashland Global Company 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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