Leavell Investment Management Inc. bought a new stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,500 shares of the basic materials company’s stock, valued at approximately $294,000.
Several other large investors also recently made changes to their positions in the stock. Aperio Group LLC boosted its position in shares of Ashland Global Holdings by 9.6% during the third quarter. Aperio Group LLC now owns 23,190 shares of the basic materials company’s stock valued at $1,516,000 after buying an additional 2,038 shares during the last quarter. First Trust Advisors LP purchased a new position in Ashland Global Holdings in the third quarter worth $405,000. Nationwide Fund Advisors boosted its position in Ashland Global Holdings by 6.2% in the third quarter. Nationwide Fund Advisors now owns 280,734 shares of the basic materials company’s stock worth $18,357,000 after purchasing an additional 16,313 shares during the last quarter. Fox Run Management L.L.C. boosted its position in Ashland Global Holdings by 40.7% in the third quarter. Fox Run Management L.L.C. now owns 7,600 shares of the basic materials company’s stock worth $497,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Boussard & Gavaudan Investment Management LLP purchased a new position in Ashland Global Holdings in the third quarter worth $6,850,000. 92.42% of the stock is currently owned by institutional investors.
Ashland Global Holdings Inc. (NYSE ASH) opened at 68.19 on Monday. The stock’s market cap is $4.26 billion. The firm has a 50-day moving average price of $65.64 and a 200 day moving average price of $64.22. Ashland Global Holdings Inc. has a 52-week low of $59.80 and a 52-week high of $128.19.
Ashland Global Holdings (NYSE:ASH) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $842.78 million. During the same period last year, the business posted $1.95 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that Ashland Global Holdings Inc. will post $4.39 earnings per share for the current fiscal year.
Several research firms have weighed in on ASH. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, October 24th. Jefferies Group LLC reissued a “buy” rating and issued a $77.00 price objective (up previously from $74.00) on shares of Ashland Global Holdings in a research report on Tuesday, September 26th. BidaskClub cut Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Deutsche Bank AG cut their price objective on 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. Finally, TheStreet cut Ashland Global Holdings from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.00.
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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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