Marshall Wace LLP bought a new position in Ashland Global Holdings Inc (NYSE:ASH) during the second quarter, HoldingsChannel reports. The fund bought 30,365 shares of the basic materials company’s stock, valued at approximately $2,374,000.

Several other large investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Ashland Global in the 2nd quarter worth about $1,010,000. Caption Management LLC purchased a new stake in shares of Ashland Global in the 2nd quarter worth about $563,000. Bank of America Corp DE grew its position in shares of Ashland Global by 9.8% in the 2nd quarter. Bank of America Corp DE now owns 173,737 shares of the basic materials company’s stock worth $13,583,000 after buying an additional 15,566 shares during the period. Wolverine Asset Management LLC grew its position in shares of Ashland Global by 1,070.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 55,000 shares of the basic materials company’s stock worth $4,299,000 after buying an additional 50,300 shares during the period. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Ashland Global in the 2nd quarter worth about $235,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ashland Global stock opened at $84.79 on Wednesday. The stock has a market capitalization of $5.28 billion, a P/E ratio of 34.75, a PEG ratio of 2.36 and a beta of 1.20. Ashland Global Holdings Inc has a 1 year low of $63.91 and a 1 year high of $86.63. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 0.72.

Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.10. The company had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $1 billion. Ashland Global had a net margin of 1.28% and a return on equity of 6.36%. Ashland Global’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. analysts expect that Ashland Global Holdings Inc will post 3.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 15th. Shareholders of record on Friday, August 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.00 annualized dividend and a yield of 1.18%. This is a boost from Ashland Global’s previous quarterly dividend of $0.23. Ashland Global’s dividend payout ratio is currently 40.98%.

A number of brokerages recently issued reports on ASH. BMO Capital Markets upped their price target on shares of Ashland Global from $84.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Ashland Global from $71.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, June 15th. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price target on shares of Ashland Global in a research note on Friday, July 20th. Credit Suisse Group upped their price target on shares of Ashland Global from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Ashland Global currently has a consensus rating of “Buy” and an average target price of $88.20.

Ashland Global Company Profile

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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

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