Parametric Portfolio Associates LLC Lowers Stake in Ashland Global Holdings Inc. (NYSE:ASH)

Parametric Portfolio Associates LLC lowered its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,141 shares of the basic materials company’s stock after selling 596 shares during the period. Parametric Portfolio Associates LLC’s holdings in Ashland Global were worth $18,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ASH. Price T Rowe Associates Inc. MD lifted its holdings in Ashland Global by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,024 shares of the basic materials company’s stock worth $1,600,000 after buying an additional 2,562 shares during the period. Royal Bank of Canada increased its position in shares of Ashland Global by 85.8% during the first quarter. Royal Bank of Canada now owns 31,515 shares of the basic materials company’s stock worth $2,796,000 after purchasing an additional 14,554 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ashland Global by 97.7% during the first quarter. AQR Capital Management LLC now owns 27,532 shares of the basic materials company’s stock worth $2,444,000 after purchasing an additional 13,607 shares in the last quarter. Man Group plc increased its position in shares of Ashland Global by 24.5% during the first quarter. Man Group plc now owns 6,029 shares of the basic materials company’s stock worth $535,000 after purchasing an additional 1,187 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Ashland Global by 62.2% during the first quarter. Morgan Stanley now owns 184,527 shares of the basic materials company’s stock worth $16,380,000 after purchasing an additional 70,746 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Shares of ASH opened at $106.21 on Thursday. The stock’s 50-day moving average is $96.01. The firm has a market cap of $6.45 billion, a P/E ratio of 29.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.33. Ashland Global Holdings Inc. has a fifty-two week low of $73.18 and a fifty-two week high of $110.74.

Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Tuesday, November 9th. The basic materials company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). Ashland Global had a return on equity of 8.33% and a net margin of 9.25%. During the same period last year, the company earned $0.99 EPS. As a group, analysts predict that Ashland Global Holdings Inc. will post 5.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, November 30th. Ashland Global’s payout ratio is currently 33.52%.

In other news, CFO J Kevin Willis sold 1,104 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $94.30, for a total transaction of $104,107.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.08% of the company’s stock.

ASH has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on Ashland Global from $107.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, November 11th. BMO Capital Markets upped their target price on Ashland Global from $122.00 to $133.00 and gave the company an “outperform” rating in a research report on Monday, November 15th. Monness Crespi & Hardt downgraded Ashland Global from a “buy” rating to a “neutral” rating in a research report on Thursday, November 11th. JPMorgan Chase & Co. raised Ashland Global to a “hold” rating and set a $90.00 target price on the stock in a research report on Thursday, August 5th. Finally, Argus upped their target price on Ashland Global from $99.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, November 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $112.30.

Ashland Global Profile

Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Consumer Specialties; Industrial Specialties; and Other.

Further Reading: What is Depreciation?

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Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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