Clearbridge Investments LLC increased its position in Ashland Global Holdings Inc. (NYSE:ASH) by 14.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 669,573 shares of the basic materials company’s stock after purchasing an additional 82,895 shares during the period. Clearbridge Investments LLC owned 1.10% of Ashland Global worth $58,588,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC lifted its holdings in shares of Ashland Global by 43.0% in the 2nd quarter. LPL Financial LLC now owns 8,868 shares of the basic materials company’s stock valued at $776,000 after purchasing an additional 2,668 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ashland Global by 128.2% in the 2nd quarter. Franklin Resources Inc. now owns 3,467,402 shares of the basic materials company’s stock valued at $303,397,000 after purchasing an additional 1,947,757 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Ashland Global by 5.2% in the 2nd quarter. Stifel Financial Corp now owns 11,861 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 591 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Ashland Global by 9.3% in the 2nd quarter. Bridgewater Associates LP now owns 64,112 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ashland Global by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 667,367 shares of the basic materials company’s stock valued at $58,394,000 after purchasing an additional 11,483 shares during the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ASH opened at $94.71 on Thursday. The business’s fifty day moving average price is $89.40 and its two-hundred day moving average price is $89.18. The stock has a market cap of $5.75 billion, a PE ratio of 32.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 2.05. Ashland Global Holdings Inc. has a one year low of $68.17 and a one year high of $95.96.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, August 31st. Ashland Global’s dividend payout ratio (DPR) is currently 42.86%.
In related news, CFO J Kevin Willis sold 1,104 shares of the stock in a transaction on Friday, September 10th. The stock was sold at an average price of $94.30, for a total value of $104,107.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 10.08% of the company’s stock.
ASH has been the subject of several analyst reports. Mizuho initiated coverage on Ashland Global in a research note on Tuesday. They set a “buy” rating and a $116.00 price objective for the company. Wells Fargo & Company increased their target price on Ashland Global from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, October 1st. Stifel Nicolaus began coverage on Ashland Global in a research note on Thursday, June 17th. They set a “buy” rating and a $118.00 target price for the company. BMO Capital Markets cut their target price on Ashland Global from $113.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, September 29th. Finally, JPMorgan Chase & Co. upgraded Ashland Global to a “hold” rating and set a $90.00 price target on the stock in a report on Thursday, August 5th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $105.22.
Ashland Global Profile
Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Consumer Specialties; Industrial Specialties; and Other.
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