JPMorgan Chase & Co. boosted its stake in shares of Ashland Global Holdings Inc. (NYSE: ASH – Get Rating) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,513 shares of the basic materials company stock after purchasing an additional 4,867 shares during the quarter. JPMorgan Chase & Co. owned about 0.29% of Ashland Global worth $ 17,603,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in Ashland Global by 9.5% during the third quarter. Franklin Resources Inc. now owns 3,798,348 shares of the basic materials company stock worth $ 338,509,000 after purchasing an additional 330,946 shares during the period. Naya Capital Management UK Ltd. boosted its position in shares of Ashland Global by 12.2% in the third quarter. Naya Capital Management UK Ltd. now owns 2,468,135 shares of the basic materials company stock valued at $ 219,960,000 after acquiring an additional 267,424 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Ashland Global by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,071,330 shares of basic materials company stock valued at $ 222,995,000 after acquiring an additional 10,737 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Ashland Global by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,487,979 shares of the basic materials company stock valued at $ 160,196,000 after acquiring an additional 14,133 shares during the period. Finally, Ceredex Value Advisors LLC boosted its position in shares of Ashland Global by 7.8% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,255,768 shares of the basic materials company stock valued at $ 135,196,000 after acquiring an additional 90,789 shares during the period. 96.75% of the stock is owned by hedge funds and other institutional investors.
Ashland Global stock opened at $ 107.02 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.50 and a quick ratio of 1.79. The stock has a fifty day moving average price of $ 101.84 and a two-hundred day moving average price of $ 100.22. Ashland Global Holdings Inc. has a 52-week low of $ 81.93 and a 52-week high of $ 111.05. The firm has a market capitalization of $ 5.84 billion, a P / E ratio of 6.47 and a beta of 1.14.
Ashland Global (NYSE: ASH – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The basic materials company reported $ 1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.36 by $ 0.14. Ashland Global had a return on equity of 9.45% and a net margin of 40.83%. The firm 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 company posted $ 1.05 earnings per share. On average, equities research analysts predict that Ashland Global Holdings Inc. will post 5.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $ 0.335 per share. This represents a $ 1.34 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from Ashland Global’s previous quarterly dividend of $ 0.30. Ashland Global’s dividend payout ratio is presently 7.26%.
Ashland Global announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 25th that allows the company to buyback $ 500.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company board believes its shares are undervalued.
Several equities research analysts have recently weighed in on the company. TheStreet raised Ashland Global from a “c” rating to a “b-” rating in a research report on Tuesday, April 26th. StockNews.com assumed coverage on Ashland Global in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Ashland Global from $ 120.00 to $ 122.00 in a research report on Thursday, April 28th. Stifel Nicolaus upped their target price on Ashland Global from $ 130.00 to $ 136.00 in a research note on Thursday, February 3rd. Finally, Mizuho upped their target price on Ashland Global from $ 129.00 to $ 135.00 and gave the company a “buy” rating in a research note on Tuesday, April 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Ashland Global currently has a consensus rating of “Buy” and an average target price of $ 121.25.
About Ashland Global: (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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