Wells Fargo & Company MN Buys 7,146 Shares of Ashland Global Holdings Inc. (ASH)
Wells Fargo & Company MN boosted its stake in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 205,612 shares of the basic materials company’s stock after purchasing an additional 7,146 shares during the period. Wells Fargo & Company MN owned 0.33% of Ashland Global worth $13,445,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services Inc bought a new stake in Ashland Global in the third quarter valued at approximately $234,000. Sciencast Management LP bought a new stake in Ashland Global in the second quarter valued at approximately $271,000. Leavell Investment Management Inc. bought a new stake in Ashland Global in the third quarter valued at approximately $294,000. Shelton Capital Management bought a new stake in Ashland Global in the second quarter valued at approximately $308,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Ashland Global in the third quarter valued at approximately $313,000. 91.68% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. SunTrust Banks upped their price objective on Ashland Global to $83.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered Ashland Global from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Credit Suisse Group upped their price objective on Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Deutsche Bank upped their price objective on Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, UBS Group upped their price objective on Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Ashland Global currently has an average rating of “Hold” and an average price target of $82.57.
Ashland Global (NYSE:ASH) last announced its earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to the consensus estimate of $869.62 million. Ashland Global’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. research analysts expect that Ashland Global Holdings Inc. will post 3.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.225 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. Ashland Global’s dividend payout ratio (DPR) is currently -9,000,000.00%.
In other news, CFO J Kevin Willis sold 1,352 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.23, for a total transaction of $89,542.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter Ganz sold 3,379 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $70.63, for a total value of $238,658.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,342 shares of company stock worth $1,148,839. 1.14% of the stock is owned by corporate insiders.
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About Ashland Global
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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