Channing Capital Management LLC trimmed its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,043 shares of the basic materials company’s stock after selling 9,877 shares during the period. Channing Capital Management LLC owned about 0.35% of Ashland Global Holdings worth $14,127,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ASH. Wellington Management Group LLP lifted its position in shares of Ashland Global Holdings by 197.1% during the 1st quarter. Wellington Management Group LLP now owns 5,467 shares of the basic materials company’s stock valued at $677,000 after acquiring an additional 3,627 shares during the period. HighTower Advisors LLC raised its position in shares of Ashland Global Holdings by 1.1% during the 1st quarter. HighTower Advisors LLC now owns 3,851 shares of the basic materials company’s stock worth $476,000 after purchasing an additional 42 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Ashland Global Holdings during the 1st quarter worth approximately $324,000. Fox Run Management L.L.C. raised its position in shares of Ashland Global Holdings by 45.9% during the 2nd quarter. Fox Run Management L.L.C. now owns 5,400 shares of the basic materials company’s stock worth $356,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Ashland Global Holdings by 3.4% during the 2nd quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.
Ashland Global Holdings Inc. (NYSE:ASH) traded down $0.02 during mid-day trading on Friday, reaching $68.66. 519,415 shares of the company’s stock traded hands, compared to its average volume of 407,175. The company has a current ratio of 2.05, a quick ratio of 1.35 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.29 billion, a PE ratio of 13.17, a PEG ratio of 2.07 and a beta of 1.07.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $842.78 million. During the same period in the prior year, the company posted $1.95 earnings per share. Ashland Global Holdings’s revenue was up 10.1% compared to the same quarter last year. analysts predict that Ashland Global Holdings Inc. will post 4.38 EPS for the current year.
Several analysts have commented on ASH shares. Zacks Investment Research raised shares of Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, October 24th. BidaskClub cut shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 target price on shares of Ashland Global Holdings in a research note on Sunday, September 3rd. TheStreet cut shares of Ashland Global Holdings from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG lowered their target price on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $89.00.
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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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