Ashland Global (NYSE:ASH) Rating Lowered to C at TheStreet

TheStreet lowered shares of Ashland Global (NYSE:ASH) from a b rating to a c rating in a report released on Monday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on ASH. ValuEngine raised shares of Ashland Global from a hold rating to a buy rating in a research note on Tuesday, June 4th. Zacks Investment Research cut shares of Ashland Global from a hold rating to a sell rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $89.15.

ASH stock opened at $78.40 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. Ashland Global has a one year low of $64.93 and a one year high of $86.63. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.60 and a beta of 1.27.

Ashland Global (NYSE:ASH) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The business had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $680.96 million. During the same quarter in the previous year, the company earned $1.06 EPS. The business’s quarterly revenue was down 31.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ashland Global will post 2.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Monday, June 3rd will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, May 31st. Ashland Global’s payout ratio is presently 30.73%.

In other Ashland Global news, insider William J. Heitman sold 6,300 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $79.46, for a total transaction of $500,598.00. Following the transaction, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $500,836.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William J. Heitman sold 7,203 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.49, for a total transaction of $572,566.47. Following the transaction, the insider now directly owns 6,303 shares in the company, valued at $501,025.47. The disclosure for this sale can be found here. Insiders have sold a total of 17,221 shares of company stock valued at $1,359,296 over the last quarter. 1.14% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ASH. JPMorgan Chase & Co. grew its position in shares of Ashland Global by 46.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,416 shares of the basic materials company’s stock worth $11,022,000 after buying an additional 41,963 shares during the period. Vanguard Group Inc grew its position in Ashland Global by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock valued at $480,582,000 after purchasing an additional 152,555 shares during the last quarter. Bank of Montreal Can grew its position in Ashland Global by 2.2% during the 4th quarter. Bank of Montreal Can now owns 9,336 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 202 shares during the last quarter. Rhumbline Advisers grew its position in Ashland Global by 42.3% during the 4th quarter. Rhumbline Advisers now owns 166,547 shares of the basic materials company’s stock valued at $11,818,000 after purchasing an additional 49,520 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Ashland Global by 0.3% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 83,593 shares of the basic materials company’s stock valued at $5,932,000 after purchasing an additional 252 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Ashland Global (NYSE:ASH)

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