State Board of Administration of Florida Retirement System Trims Stock Position in Ashland Global Holdings Inc. (NYSE:ASH)

State Board of Administration of Florida Retirement System trimmed its holdings in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,918 shares of the basic materials company’s stock after selling 1,744 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Ashland Global were worth $6,053,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ASH. Advisory Services Network LLC purchased a new position in Ashland Global during the second quarter valued at approximately $28,000. Dark Forest Capital Management LP purchased a new position in Ashland Global during the second quarter valued at approximately $28,000. Jacobi Capital Management LLC purchased a new position in Ashland Global during the second quarter valued at approximately $46,000. FORA Capital LLC purchased a new position in Ashland Global during the second quarter valued at approximately $73,000. Finally, Arrow Financial Corp boosted its stake in Ashland Global by 184.2% in the third quarter. Arrow Financial Corp now owns 827 shares of the basic materials company’s stock valued at $74,000 after acquiring an additional 536 shares in the last quarter. 98.10% of the stock is currently owned by institutional investors.

NYSE ASH opened at $105.70 on Friday. The company has a market capitalization of $6.02 billion, a PE ratio of 29.53 and a beta of 1.25. The company has a fifty day moving average of $104.56 and a 200 day moving average of $94.58. Ashland Global Holdings Inc. has a 1 year low of $79.16 and a 1 year high of $110.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.33.

Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, November 9th. The basic materials company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Ashland Global had a net margin of 9.25% and a return on equity of 8.33%. The firm had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $591.20 million. During the same period in the previous year, the firm posted $0.99 EPS. Research analysts expect that Ashland Global Holdings Inc. will post 4.65 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. Ashland Global’s payout ratio is 33.52%.

Several equities research analysts have weighed in on the stock. Monness Crespi & Hardt downgraded shares of Ashland Global from a “buy” rating to a “neutral” rating in a research note on Thursday, November 11th. Zacks Investment Research lifted their price objective on shares of Ashland Global to $124.00 in a research note on Friday. Argus lifted their price objective on shares of Ashland Global from $99.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, November 19th. Mizuho lifted their price objective on shares of Ashland Global from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, November 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Ashland Global from $107.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $115.40.

Ashland Global Company Profile

Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care & Household, Specialty Additives, and Intermediates and Solvents.

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

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