Gabelli Funds LLC Sells 2,700 Shares of Ashland Global Holdings Inc. (ASH)

Gabelli Funds LLC decreased its holdings in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 199,900 shares of the basic materials company’s stock after selling 2,700 shares during the period. Gabelli Funds LLC’s holdings in Ashland Global were worth $14,233,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Chicago Partners Investment Group LLC increased its stake in Ashland Global by 600.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock worth $152,000 after buying an additional 1,999 shares during the period. Sawyer & Company Inc purchased a new stake in Ashland Global during the 4th quarter worth $157,000. Commonwealth Equity Services Inc purchased a new stake in Ashland Global during the 3rd quarter worth $234,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ashland Global by 57.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the basic materials company’s stock worth $240,000 after buying an additional 1,222 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Ashland Global during the 4th quarter worth $263,000. Institutional investors and hedge funds own 91.74% of the company’s stock.

ASH has been the topic of several analyst reports. Zacks Investment Research raised shares of Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, October 24th. Deutsche Bank lifted their price target on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. SunTrust Banks lifted their price target on shares of Ashland Global to $83.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Credit Suisse Group lifted their price target on shares of Ashland Global from $65.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Ashland Global in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Ashland Global presently has an average rating of “Hold” and an average price target of $83.00.

In other news, insider William J. Heitman sold 4,495 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $70.31, for a total value of $316,043.45. Following the completion of the sale, the insider now owns 15,152 shares of the company’s stock, valued at approximately $1,065,337.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J Kevin Willis sold 916 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $70.61, for a total transaction of $64,678.76. The disclosure for this sale can be found here. Insiders sold a total of 41,077 shares of company stock valued at $2,949,366 in the last three months. Insiders own 1.14% of the company’s stock.

Shares of Ashland Global Holdings Inc. (ASH) opened at $70.46 on Friday. The firm has a market cap of $4,521.54, a PE ratio of 19.22, a PEG ratio of 2.27 and a beta of 1.13. Ashland Global Holdings Inc. has a 1 year low of $58.40 and a 1 year high of $77.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.96 and a quick ratio of 1.29.

Ashland Global (NYSE:ASH) last released its earnings results on Monday, January 29th. The basic materials company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $842.05 million. Ashland Global had a positive return on equity of 7.14% and a negative net margin of 0.08%. During the same period in the previous year, the firm posted $1.16 EPS. equities research analysts forecast that Ashland Global Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, February 28th. Ashland Global’s payout ratio is currently -1,500.00%.

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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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Institutional Ownership by Quarter for Ashland Global (NYSE:ASH)

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