Janus Henderson Group PLC Acquires 17,600 Shares of Ashland Global Holdings Inc. (ASH)
Janus Henderson Group PLC lifted its holdings in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,651 shares of the basic materials company’s stock after acquiring an additional 17,600 shares during the period. Janus Henderson Group PLC owned approximately 0.13% of Ashland Global worth $5,208,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Boussard & Gavaudan Investment Management LLP bought a new stake in Ashland Global in the 3rd quarter worth about $6,850,000. Neuberger Berman Group LLC grew its position in Ashland Global by 12.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,336,608 shares of the basic materials company’s stock worth $88,096,000 after purchasing an additional 148,879 shares in the last quarter. Condor Capital Management boosted its stake in Ashland Global by 92.7% in the second quarter. Condor Capital Management now owns 26,801 shares of the basic materials company’s stock valued at $1,766,000 after acquiring an additional 12,895 shares during the last quarter. Sciencast Management LP purchased a new position in Ashland Global in the second quarter valued at about $271,000. Finally, JPMorgan Chase & Co. boosted its stake in Ashland Global by 79.6% in the second quarter. JPMorgan Chase & Co. now owns 224,459 shares of the basic materials company’s stock valued at $14,795,000 after acquiring an additional 99,482 shares during the last quarter. 91.69% of the stock is owned by institutional investors.
A number of research firms have weighed in on ASH. Jefferies Group reiterated a “buy” rating and issued a $77.00 target price (up from $74.00) on shares of Ashland Global in a research note on Tuesday, September 26th. SunTrust Banks reiterated a “buy” rating and issued a $74.00 target price on shares of Ashland Global in a research note on Friday, November 10th. UBS Group boosted their target price on shares of Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Credit Suisse Group boosted their target price on shares of Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $82.57.
In other Ashland Global news, CFO J Kevin Willis sold 8,152 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $70.70, for a total value of $576,346.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Ganz sold 3,379 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $70.63, for a total transaction of $238,658.77. The disclosure for this sale can be found here. Insiders sold a total of 16,342 shares of company stock worth $1,148,839 over the last quarter. Corporate insiders own 1.14% of the company’s stock.
Shares of Ashland Global Holdings Inc. (NYSE ASH) opened at $71.33 on Thursday. The company has a market cap of $4,447.21, a P/E ratio of -7,133,000.00, a P/E/G ratio of 2.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97. Ashland Global Holdings Inc. has a 52 week low of $54.08 and a 52 week high of $74.75.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The business had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $869.62 million. During the same quarter in the previous year, the company posted $1.52 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. research analysts predict that Ashland Global Holdings Inc. will post 3.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, November 30th. Ashland Global’s dividend payout ratio is presently -9,000,000.00%.
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Ashland Global Profile
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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