M&T Bank Corp lowered its holdings in Ashland Global Holdings Inc. (NYSE:ASH) by 1.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,356 shares of the basic materials company’s stock after selling 36 shares during the quarter. M&T Bank Corp’s holdings in Ashland Global Holdings were worth $221,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ASH. Creative Planning increased its holdings in shares of Ashland Global Holdings by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 101 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Ashland Global Holdings in the 2nd quarter valued at about $290,000. World Asset Management Inc increased its holdings in shares of Ashland Global Holdings by 2.4% in the 2nd quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 104 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Ashland Global Holdings in the 1st quarter valued at about $324,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Ashland Global Holdings in the 2nd quarter valued at about $329,000. Institutional investors and hedge funds own 92.47% of the company’s stock.
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ASH has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $74.00 price objective on shares of Ashland Global Holdings in a report on Sunday, September 3rd. BidaskClub downgraded Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Deutsche Bank AG dropped their price objective on Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $88.83.
Ashland Global Holdings Inc. (NYSE:ASH) opened at 66.46 on Monday. The stock has a 50 day moving average price of $64.21 and a 200-day moving average price of $63.82. Ashland Global Holdings Inc. has a 12-month low of $51.61 and a 12-month high of $67.90. The stock’s market cap is $4.15 billion.
Ashland Global Holdings (NYSE:ASH) last announced 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 $870.00 million during the quarter, compared to analyst estimates of $842.78 million. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. Ashland Global Holdings’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.95 earnings per share. On average, equities analysts expect that Ashland Global Holdings Inc. will post $4.39 earnings per share for the current year.
About Ashland Global Holdings
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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