Zacks Investment Research downgraded shares of Ashland Global (NYSE:ASH) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “

A number of other research firms have also weighed in on ASH. Credit Suisse Group set a $95.00 target price on shares of Ashland Global and gave the stock a buy rating in a report on Friday, September 21st. JPMorgan Chase & Co. increased their target price on shares of Ashland Global from $81.00 to $87.00 and gave the stock a neutral rating in a report on Friday, August 24th. UBS Group increased their target price on shares of Ashland Global from $93.00 to $96.00 and gave the stock a buy rating in a report on Tuesday, October 2nd. TheStreet lowered shares of Ashland Global from a b rating to a c+ rating in a report on Wednesday, November 7th. Finally, Deutsche Bank increased their target price on shares of Ashland Global from $96.00 to $100.00 and gave the stock a buy rating in a report on Friday, November 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Ashland Global presently has a consensus rating of Buy and an average target price of $92.50.

Ashland Global stock opened at $76.33 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.59 and a debt-to-equity ratio of 0.67. The stock has a market cap of $4.94 billion, a PE ratio of 21.83, a PEG ratio of 2.53 and a beta of 1.33. Ashland Global has a 1-year low of $64.81 and a 1-year high of $86.63.

Ashland Global (NYSE:ASH) last posted its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.97. The company had revenue of $956.00 million during the quarter, compared to analyst estimates of $926.50 million. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. Ashland Global’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Sell-side analysts predict that Ashland Global will post 3.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Monday, December 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, November 30th. Ashland Global’s payout ratio is currently 27.93%.

In other Ashland Global news, VP Keith C. Silverman sold 498 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $81.67, for a total transaction of $40,671.66. Following the completion of the transaction, the vice president now owns 3,380 shares of the company’s stock, valued at $276,044.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J Kevin Willis sold 2,046 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $80.34, for a total transaction of $164,375.64. Following the transaction, the chief financial officer now directly owns 3,168 shares of the company’s stock, valued at approximately $254,517.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,353 shares of company stock valued at $1,418,052. 1.14% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Financial Bank Trust Division increased its stake in shares of Ashland Global by 1.2% during the third quarter. First Financial Bank Trust Division now owns 54,076 shares of the basic materials company’s stock valued at $4,535,000 after purchasing an additional 642 shares in the last quarter. Fox Run Management L.L.C. increased its stake in shares of Ashland Global by 17.8% during the third quarter. Fox Run Management L.L.C. now owns 4,330 shares of the basic materials company’s stock valued at $363,000 after purchasing an additional 654 shares in the last quarter. United Services Automobile Association increased its stake in shares of Ashland Global by 7.0% during the second quarter. United Services Automobile Association now owns 11,310 shares of the basic materials company’s stock valued at $884,000 after purchasing an additional 737 shares in the last quarter. Raymond James & Associates increased its stake in shares of Ashland Global by 12.4% during the second quarter. Raymond James & Associates now owns 6,877 shares of the basic materials company’s stock valued at $538,000 after purchasing an additional 761 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Ashland Global by 32.2% during the third quarter. Brown Advisory Inc. now owns 3,386 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 824 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

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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