SlateStone Wealth LLC Raises Stock Holdings in Ashland Global Holdings Inc (NYSE:ASH)
SlateStone Wealth LLC increased its position in Ashland Global Holdings Inc (NYSE:ASH) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,915 shares of the basic materials company’s stock after purchasing an additional 420 shares during the period. SlateStone Wealth LLC’s holdings in Ashland Global were worth $759,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio grew its stake in shares of Ashland Global by 5.2% in the third quarter. Strs Ohio now owns 6,260 shares of the basic materials company’s stock worth $482,000 after acquiring an additional 309 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Ashland Global by 20.7% in the third quarter. California Public Employees Retirement System now owns 117,511 shares of the basic materials company’s stock worth $9,054,000 after acquiring an additional 20,164 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Ashland Global in the third quarter worth $4,708,000. Millennium Management LLC grew its stake in shares of Ashland Global by 1,071.4% in the third quarter. Millennium Management LLC now owns 374,470 shares of the basic materials company’s stock worth $28,852,000 after acquiring an additional 342,503 shares during the last quarter. Finally, Private Trust Co. NA purchased a new stake in shares of Ashland Global in the fourth quarter worth $542,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Peter Ganz sold 1,351 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.99, for a total transaction of $106,715.49. Following the transaction, the senior vice president now directly owns 40,738 shares of the company’s stock, valued at $3,217,894.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William J. Heitman sold 509 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $78.99, for a total value of $40,205.91. Following the transaction, the insider now directly owns 6,594 shares in the company, valued at $520,860.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,982 shares of company stock worth $314,538. Corporate insiders own 9.33% of the company’s stock.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $533.00 million for the quarter, compared to the consensus estimate of $534.68 million. Ashland Global had a return on equity of 4.50% and a net margin of 23.88%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Sell-side analysts predict that Ashland Global Holdings Inc will post 2.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, February 27th. Ashland Global’s payout ratio is currently 44.00%.
A number of equities research analysts have recently commented on ASH shares. Zacks Investment Research raised Ashland Global from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets increased their target price on Ashland Global from $81.00 to $87.00 and gave the stock a “market perform” rating in a research note on Wednesday. ValuEngine raised Ashland Global from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Co increased their target price on Ashland Global from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, UBS Group increased their target price on Ashland Global from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Ashland Global currently has an average rating of “Buy” and a consensus target price of $85.00.
Ashland Global 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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