Ashland Global (ASH) Now Covered by Analysts at Buckingham Research
Buckingham Research assumed coverage on shares of Ashland Global (NYSE:ASH) in a research note released on Monday morning, The Fly reports. The firm issued a neutral rating on the basic materials company’s stock.
Other equities analysts have also recently issued reports about the company. UBS Group increased their price target on Ashland Global from $93.00 to $96.00 and gave the stock a buy rating in a report on Tuesday, October 2nd. Credit Suisse Group set a $95.00 price target on Ashland Global and gave the stock a buy rating in a report on Friday, September 21st. Deutsche Bank increased their price target on Ashland Global from $96.00 to $100.00 and gave the stock a buy rating in a report on Friday, November 16th. TheStreet cut Ashland Global from a b rating to a c+ rating in a report on Wednesday, November 7th. Finally, Zacks Investment Research cut Ashland Global from a buy rating to a hold rating in a report on Wednesday, December 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $92.50.
NYSE ASH opened at $70.66 on Monday. The firm has a market cap of $4.56 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.18 and a beta of 1.32. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.59 and a quick ratio of 0.98. Ashland Global has a twelve month low of $64.81 and a twelve month high of $86.63.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 15th. Investors of record on Monday, December 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, November 30th. Ashland Global’s dividend payout ratio (DPR) is 27.93%.
In related news, VP Keith C. Silverman sold 498 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was 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 directly owns 3,380 shares in the company, valued at approximately $276,044.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO J Kevin Willis sold 2,046 shares of the firm’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $80.34, for a total value of $164,375.64. Following the transaction, the chief financial officer now owns 3,168 shares of the company’s stock, valued at $254,517.12. The disclosure for this sale can be found here. Insiders have sold a total of 15,067 shares of company stock valued at $1,224,405 over the last 90 days. 1.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. First Financial Bank Trust Division boosted its holdings in Ashland Global by 1.2% during the 3rd quarter. First Financial Bank Trust Division now owns 54,076 shares of the basic materials company’s stock valued at $4,535,000 after acquiring an additional 642 shares during the period. Fox Run Management L.L.C. boosted its stake in shares of Ashland Global by 17.8% in the 3rd quarter. Fox Run Management L.L.C. now owns 4,330 shares of the basic materials company’s stock valued at $363,000 after buying an additional 654 shares during the period. United Services Automobile Association boosted its stake in shares of Ashland Global by 7.0% in the 2nd quarter. United Services Automobile Association now owns 11,310 shares of the basic materials company’s stock valued at $884,000 after buying an additional 737 shares during the period. Raymond James & Associates boosted its stake in shares of Ashland Global by 12.4% in the 2nd quarter. Raymond James & Associates now owns 6,877 shares of the basic materials company’s stock valued at $538,000 after buying an additional 761 shares during the period. Finally, Brown Advisory Inc. boosted its stake in shares of Ashland Global by 32.2% in the 3rd quarter. Brown Advisory Inc. now owns 3,386 shares of the basic materials company’s stock valued at $284,000 after buying an additional 824 shares during the period. Institutional investors own 92.96% of the company’s stock.
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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