LPL Financial LLC raised its holdings in Ashland Global Holdings Inc. (NYSE:ASH) by 68.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,422 shares of the basic materials company’s stock after purchasing an additional 2,605 shares during the quarter. LPL Financial LLC’s holdings in Ashland Global were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its position in Ashland Global by 835.8% during the third quarter. Great West Life Assurance Co. Can now owns 276,301 shares of the basic materials company’s stock worth $35,000 after buying an additional 246,774 shares during the period. Asset Dedication LLC raised its holdings in Ashland Global by 194.3% during the fourth quarter. Asset Dedication LLC now owns 674 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 445 shares during the last quarter. OLD National Bancorp IN purchased a new stake in Ashland Global during the fourth quarter worth $217,000. HighTower Advisors LLC grew its holdings in Ashland Global by 10.6% in the fourth quarter. HighTower Advisors LLC now owns 3,182 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 304 shares during the last quarter. Finally, Brinker Capital Investments LLC purchased a new position in shares of Ashland Global in the third quarter valued at $253,000. Institutional investors own 91.86% of the company’s stock.
Several brokerages have issued reports on ASH. Monness Crespi & Hardt upped their price target on shares of Ashland Global from $88.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Ashland Global from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, February 8th. Credit Suisse Group restated an “outperform” rating and issued a $103.00 target price on shares of Ashland Global in a report on Monday, March 22nd. Finally, Zacks Investment Research downgraded Ashland Global from a “strong-buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Monday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $91.20.
Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.03. Ashland Global had a positive return on equity of 5.40% and a negative net margin of 21.84%. The firm had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $540.18 million. During the same quarter last year, the business posted $0.13 EPS. Ashland Global’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts predict that Ashland Global Holdings Inc. will post 3.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 26th were issued a $0.275 dividend. The ex-dividend date was Thursday, February 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.22%. Ashland Global’s payout ratio is currently 39.29%.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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