Victory Capital Management Inc. reduced its stake in Ashland Global Holdings Inc. (NYSE:ASH) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 796,805 shares of the basic materials company’s stock after selling 31,030 shares during the quarter. Victory Capital Management Inc. owned approximately 1.28% of Ashland Global Holdings worth $52,103,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. purchased a new stake in Ashland Global Holdings in the 3rd quarter valued at $454,000. Pictet Asset Management Ltd. purchased a new stake in Ashland Global Holdings in the 3rd quarter valued at $33,672,000. Leavell Investment Management Inc. purchased a new stake in Ashland Global Holdings in the 3rd quarter valued at $294,000. Aperio Group LLC raised its position in Ashland Global Holdings by 9.6% in the 3rd 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. Finally, First Trust Advisors LP purchased a new stake in Ashland Global Holdings in the 3rd quarter valued at $405,000. 94.06% of the stock is owned by institutional investors and hedge funds.
ASH has been the subject of several research analyst reports. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, October 24th. Deutsche Bank AG decreased their target price on Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. BidaskClub lowered Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and issued a $74.00 price objective on shares of Ashland Global Holdings in a report on Sunday, September 3rd. Finally, TheStreet lowered Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $89.00.
Ashland Global Holdings Inc. (NYSE:ASH) opened at $68.66 on Monday. Ashland Global Holdings Inc. has a 12 month low of $59.80 and a 12 month high of $128.19. The company has a quick ratio of 1.35, a current ratio of 2.05 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4,284.54, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07.
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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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