Jacobs Levy Equity Management Inc. Has $18.16 Million Holdings in Ashland Global Holdings Inc (NYSE:ASH)

Jacobs Levy Equity Management Inc. trimmed its position in Ashland Global Holdings Inc (NYSE:ASH) by 14.7% during the first quarter, HoldingsChannel.com reports. The firm owned 232,413 shares of the basic materials company’s stock after selling 40,166 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Ashland Global were worth $18,158,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC raised its stake in shares of Ashland Global by 38.7% during the first quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock valued at $187,524,000 after acquiring an additional 669,069 shares during the last quarter. Northern Trust Corp raised its stake in shares of Ashland Global by 2.6% during the first quarter. Northern Trust Corp now owns 510,830 shares of the basic materials company’s stock valued at $39,911,000 after acquiring an additional 12,884 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Ashland Global by 172.9% during the first quarter. Commonwealth Equity Services LLC now owns 13,405 shares of the basic materials company’s stock valued at $1,047,000 after acquiring an additional 8,493 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Ashland Global during the first quarter valued at $700,000. Finally, FIL Ltd raised its stake in shares of Ashland Global by 31.8% during the first quarter. FIL Ltd now owns 483,583 shares of the basic materials company’s stock valued at $37,783,000 after acquiring an additional 116,618 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

NYSE ASH traded down $0.90 during mid-day trading on Friday, reaching $79.19. 14,241 shares of the stock were exchanged, compared to its average volume of 1,022,669. Ashland Global Holdings Inc has a one year low of $64.93 and a one year high of $86.63. The company has a market capitalization of $4.98 billion, a PE ratio of 22.12, a P/E/G ratio of 2.67 and a beta of 1.27. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.68.

Ashland Global (NYSE:ASH) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $667.00 million during the quarter, compared to the consensus estimate of $680.96 million. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. Ashland Global’s quarterly revenue was down 31.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, equities analysts expect that Ashland Global Holdings Inc will post 2.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders 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 yield of 1.39%. This is a boost from Ashland Global’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, May 31st. Ashland Global’s dividend payout ratio (DPR) is presently 30.73%.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price target for the company. in a research note on Friday. They noted that the move was a valuation call. TheStreet downgraded shares of Ashland Global from a “b” rating to a “c” rating in a research note on Monday. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. Finally, Zacks Investment Research downgraded 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, two have issued a hold rating and seven have assigned a buy rating to the stock. Ashland Global has an average rating of “Buy” and an average target price of $90.88.

In other Ashland Global news, insider William J. Heitman sold 7,203 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.49, for a total value of $572,566.47. Following the completion of the sale, the insider now directly owns 6,303 shares in the company, valued at $501,025.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Heitman sold 6,300 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.46, for a total transaction of $500,598.00. Following the completion of the sale, the insider now owns 6,303 shares of the company’s stock, valued at $500,836.38. The disclosure for this sale can be found here. Insiders sold 15,065 shares of company stock valued at $1,189,252 over the last 90 days. Corporate insiders own 1.14% of the company’s stock.

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

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