Douglass Winthrop Advisors LLC Continues to Hold Position in Ashland Global Holdings Inc. (ASH)

Douglass Winthrop Advisors LLC continued to hold its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) during the second quarter, Holdings Channel reports. The fund owned 12,000 shares of the basic materials company’s stock at the end of the second quarter. Douglass Winthrop Advisors LLC’s holdings in Ashland Global Holdings were worth $791,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares during the period. Bollard Group LLC raised its stake in shares of Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock worth $115,000 after buying an additional 3 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock worth $192,000 after buying an additional 66 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Ashland Global Holdings by 13.3% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the basic materials company’s stock worth $210,000 after buying an additional 200 shares during the period. Finally, City Holding Co. raised its stake in shares of Ashland Global Holdings by 14.9% in the first quarter. City Holding Co. now owns 1,965 shares of the basic materials company’s stock worth $243,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 95.42% of the company’s stock.

Ashland Global Holdings Inc. (NYSE ASH) opened at 60.83 on Friday. Ashland Global Holdings Inc. has a one year low of $59.80 and a one year high of $128.19. The firm’s market cap is $3.80 billion. The firm has a 50 day moving average of $64.60 and a 200-day moving average of $62.45.

Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.13. The firm had revenue of $870 million for the quarter, compared to analyst estimates of $842.78 million. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 EPS. Equities research analysts forecast that Ashland Global Holdings Inc. will post $4.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.90 annualized dividend and a yield of 1.48%. Ashland Global Holdings’s dividend payout ratio is presently -25.42%.

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A number of brokerages recently issued reports on ASH. TheStreet lowered shares of Ashland Global Holdings from a “b” rating to a “c” rating in a research report on Monday, May 15th. Deutsche Bank AG decreased their target price on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Credit Suisse Group set a $122.00 target price on shares of Ashland Global Holdings and gave the stock a “hold” rating in a research report on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and set a $74.00 target price on shares of Ashland Global Holdings in a research report on Sunday, July 30th. Finally, Zacks Investment Research lowered shares of Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Ashland Global Holdings has a consensus rating of “Hold” and an average target price of $88.33.

Ashland Global Holdings Company Profile

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

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