Ashland Global Holdings Inc. (NYSE:ASH – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $127.17.
ASH has been the topic of a number of recent research reports. Mizuho upped their target price on Ashland Global from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Ashland Global from $122.00 to $120.00 in a report on Tuesday, July 19th. TheStreet raised Ashland Global from a “c” rating to a “b-” rating in a report on Tuesday, April 26th. Wells Fargo & Company reissued a “maintains” rating on shares of Ashland Global in a report on Thursday. Finally, UBS Group increased their price target on Ashland Global from $127.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday.
In other news, insider Eric N. Boni sold 2,657 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $109.50, for a total value of $290,941.50. Following the sale, the insider now directly owns 10,640 shares in the company, valued at $1,165,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ashland Global news, insider Eric N. Boni sold 2,657 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $109.50, for a total value of $290,941.50. Following the sale, the insider now directly owns 10,640 shares in the company, valued at $1,165,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO J Kevin Willis sold 4,235 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $105.58, for a total value of $447,131.30. Following the completion of the sale, the chief financial officer now owns 4,066 shares in the company, valued at $429,288.28. The disclosure for this sale can be found here. Insiders own 7.79% of the company’s stock.
Institutional Trading of Ashland Global
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sageworth Trust Co of South Dakota acquired a new stake in shares of Ashland Global during the fourth quarter worth about $27,000. ACG Wealth purchased a new position in shares of Ashland Global during the second quarter worth about $28,000. National Bank of Canada FI grew its holdings in shares of Ashland Global by 245.3% during the first quarter. National Bank of Canada FI now owns 328 shares of the basic materials company’s stock worth $32,000 after buying an additional 233 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Ashland Global during the first quarter worth about $35,000. Finally, Kenfarb & CO. purchased a new position in shares of Ashland Global during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 96.75% of the company’s stock.
Ashland Global Trading Down 0.4 %
ASH opened at $100.47 on Friday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 6.32 and a beta of 1.10. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.40. Ashland Global has a 12 month low of $81.93 and a 12 month high of $112.91. The stock has a fifty day moving average price of $102.47 and a 200-day moving average price of $99.42.
Ashland Global (NYSE:ASH – Get Rating) last announced its earnings results on Tuesday, July 26th. The basic materials company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.22. Ashland Global had a return on equity of 10.59% and a net margin of 38.83%. During the same quarter in the prior year, the business posted $1.22 EPS. As a group, equities research analysts anticipate that Ashland Global will post 5.58 earnings per share for the current fiscal year.
Ashland Global Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a dividend of $0.335 per share. This is a positive change from Ashland Global’s previous quarterly dividend of $0.30. This represents a $1.34 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, May 31st. Ashland Global’s dividend payout ratio (DPR) is currently 8.43%.
Ashland Global announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Ashland Global Company Profile
Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.
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