Louisiana State Employees Retirement System lowered its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,000 shares of the basic materials company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Ashland Global were worth $1,244,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of ASH. Neuberger Berman Group LLC lifted its stake in shares of Ashland Global by 38.7% in the first quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock worth $187,524,000 after buying an additional 669,069 shares in the last quarter. Hilton Capital Management LLC purchased a new position in shares of Ashland Global during the first quarter valued at approximately $73,000. First Citizens Bank & Trust Co. raised its holdings in shares of Ashland Global by 39.0% during the first quarter. First Citizens Bank & Trust Co. now owns 5,028 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,411 shares during the last quarter. Federated Investors Inc. PA raised its holdings in shares of Ashland Global by 643.9% during the first quarter. Federated Investors Inc. PA now owns 161,503 shares of the basic materials company’s stock valued at $12,618,000 after purchasing an additional 139,792 shares during the last quarter. Finally, Leisure Capital Management purchased a new position in shares of Ashland Global during the first quarter valued at approximately $738,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of ASH stock opened at $71.09 on Friday. The company has a 50 day simple moving average of $77.30 and a two-hundred day simple moving average of $77.47. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71. The stock has a market cap of $4.48 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.68 and a beta of 1.24. Ashland Global Holdings Inc has a 12 month low of $64.93 and a 12 month high of $86.53.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Friday, August 30th will be paid a $0.275 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.55%. Ashland Global’s dividend payout ratio (DPR) is presently 30.73%.
Several research firms have recently weighed in on ASH. Credit Suisse Group set a $92.00 price objective on shares of Ashland Global and gave the company a “buy” rating in a report on Friday, July 12th. Buckingham Research boosted their price objective on shares of Ashland Global from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. TheStreet cut shares of Ashland Global from a “b” rating to a “c” rating in a report on Monday, June 10th. Zacks Investment Research cut shares of Ashland Global from a “hold” rating to a “strong sell” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price objective for the company. in a report on Friday, June 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $89.33.
Ashland Global Company Profile
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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