TD Asset Management Inc. raised its position in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,000 shares of the basic materials company’s stock after purchasing an additional 2,000 shares during the quarter. TD Asset Management Inc. owned 0.10% of Ashland Global worth $4,250,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ASH. Creative Planning increased its stake in shares of Ashland Global 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 acquiring an additional 101 shares during the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Ashland Global in the third quarter worth $234,000. Sciencast Management LP acquired a new position in shares of Ashland Global in the second quarter worth $271,000. Trexquant Investment LP acquired a new position in shares of Ashland Global in the second quarter worth $290,000. Finally, World Asset Management Inc increased its stake in shares of Ashland Global by 2.4% in the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 104 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.
In related news, CFO J Kevin Willis sold 8,152 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $70.70, for a total value of $576,346.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Ganz sold 3,379 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $70.63, for a total transaction of $238,658.77. The disclosure for this sale can be found here. Insiders have sold 16,342 shares of company stock valued at $1,148,839 over the last 90 days. Corporate insiders own 1.27% of the company’s stock.
Ashland Global (NYSE:ASH) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to the consensus estimate of $869.62 million. During the same quarter last year, the company earned $1.52 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. equities research analysts predict that Ashland Global Holdings Inc. will post 3.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 30th. Ashland Global’s dividend payout ratio (DPR) is -9,000,000.00%.
ASH has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, October 24th. Credit Suisse Group upped their price objective on shares of Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, November 8th. Jefferies Group reiterated a “buy” rating and issued a $74.00 price objective on shares of Ashland Global in a report on Sunday, September 3rd. SunTrust Banks upped their price objective on shares of Ashland Global to $83.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Finally, UBS upped their price objective on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Ashland Global has a consensus rating of “Hold” and a consensus target price of $82.57.
Ashland Global 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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