Caxton Associates LP acquired a new stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,900 shares of the basic materials company’s stock, valued at approximately $517,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Evercore Trust Company N.A. raised its position in Ashland Global by 113.3% in the second quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock worth $143,580,000 after acquiring an additional 1,157,131 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ashland Global in the second quarter worth about $54,562,000. Ameriprise Financial Inc. raised its position in Ashland Global by 325.7% in the second quarter. Ameriprise Financial Inc. now owns 842,988 shares of the basic materials company’s stock worth $55,559,000 after acquiring an additional 644,983 shares in the last quarter. Schroder Investment Management Group raised its position in Ashland Global by 132.6% in the second quarter. Schroder Investment Management Group now owns 1,119,235 shares of the basic materials company’s stock worth $73,814,000 after acquiring an additional 638,040 shares in the last quarter. Finally, Laurion Capital Management LP bought a new stake in Ashland Global in the second quarter worth about $37,984,000. Institutional investors and hedge funds own 91.82% of the company’s stock.
Shares of Ashland Global Holdings Inc. (ASH) opened at $71.03 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97. The stock has a market capitalization of $4,400.54, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. Ashland Global Holdings Inc. has a twelve month low of $53.79 and a twelve month high of $74.75.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 annualized dividend and a yield of 1.27%. Ashland Global’s payout ratio is presently -9,000,000.00%.
In other Ashland Global news, insider Peter Ganz sold 3,379 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO J Kevin Willis sold 8,152 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $70.70, for a total value of $576,346.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,342 shares of company stock worth $1,148,839. Corporate insiders own 1.14% of the company’s stock.
Several brokerages have commented on ASH. Jefferies Group reiterated a “buy” rating and issued a $77.00 price target (up from $74.00) on shares of Ashland Global in a research report on Tuesday, September 26th. SunTrust Banks reiterated a “buy” rating and issued a $74.00 price target on shares of Ashland Global in a research report on Friday, November 10th. Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Deutsche Bank boosted their price target on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, UBS boosted their price target on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $82.57.
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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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