Ashland Global Holdings Inc. (NYSE: ASH – Get Rating) has earned a consensus rating of “Hold” from the ten analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $ 122.71.
ASH has been the topic of several recent analyst reports. TheStreet upgraded shares of Ashland Global from a “c” rating to a “b-” rating in a report on Tuesday, April 26th. Mizuho upped their price objective on shares of Ashland Global from $ 129.00 to $ 135.00 and gave the company a “buy” rating in a report on Tuesday, April 19th. Wells Fargo & Company upped their price objective on shares of Ashland Global from $ 105.00 to $ 113.00 and gave the company an “equal weight” rating in a report on Monday, April 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ashland Global from $ 120.00 to $ 122.00 in a report on Thursday, April 28th. Finally, StockNews.com assumed coverage on shares of Ashland Global in a report on Thursday, March 31st. They issued a “hold” rating on the stock.
In other news, CFO J Kevin Willis sold 4,235 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $ 105.58, for a total transaction of $ 447,131.30. Following the sale, the chief financial officer now owns 4,066 shares of the company stock, valued at approximately $ 429,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric N. Boni sold 2,657 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $ 109.50, for a total transaction of $ 290,941.50. Following the sale, the insider now directly owns 10,640 shares in the company, valued at approximately $ 1,165,080. The disclosure for this sale can be found here. 7.79% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ASH. Sageworth Trust Co of South Dakota purchased a new position in shares of Ashland Global during the 4th quarter valued at approximately $ 27,000. National Bank of Canada FI lifted its position in shares of Ashland Global by 245.3% during the 1st quarter. National Bank of Canada FI now owns 328 shares of the basic materials company stock valued at $ 32,000 after buying an additional 233 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Ashland Global during the 4th quarter valued at approximately $ 35,000. Prospera Financial Services Inc purchased a new position in shares of Ashland Global during the 1st quarter valued at approximately $ 35,000. Finally, Kenfarb & CO. purchased a new position in shares of Ashland Global during the 4th quarter valued at approximately $ 39,000. 96.75% of the stock is currently owned by institutional investors and hedge funds.
ASH stock opened at $ 98.50 on Friday. The firm has a market cap of $ 5.37 billion, a price-to-earnings ratio of 5.96 and a beta of 1.14. The firm has a 50-day simple moving average of $ 103.34 and a two-hundred day simple moving average of $ 100.12. Ashland Global has a one year low of $ 81.93 and a one year high of $ 112.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.79 and a current ratio of 2.50.
Ashland Global (NYSE: ASH – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The basic materials company reported $ 1.50 EPS for the quarter, beating the consensus estimate of $ 1.36 by $ 0.14. Ashland Global had a net margin of 40.83% and a return on equity of 9.45%. The business had revenue of $ 604.00 million during the quarter, compared to analyst estimates of $ 603.89 million. During the same period in the prior year, the firm posted $ 1.05 earnings per share. As a group, equities analysts predict that Ashland Global will post 5.12 earnings per share for the current fiscal year.
Ashland Global declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 25th that allows the company to repurchase $ 500.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a $ 0.335 dividend. This represents a $ 1.34 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, May 31st. This is an increase from Ashland Global’s previous quarterly dividend of $ 0.30. Ashland Global’s dividend payout ratio is 8.11%.
Ashland Global Company Profile: (Get Rating)
Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.
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