Ashland Global Holdings Inc (ASH) Stake Lessened by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA decreased its holdings in Ashland Global Holdings Inc (NYSE:ASH) by 71.9% during the 2nd quarter, Holdings Channel reports. The firm owned 5,509 shares of the basic materials company’s stock after selling 14,103 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Ashland Global were worth $431,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of ASH. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ashland Global in the 4th quarter valued at $203,000. Comerica Bank increased its stake in shares of Ashland Global by 5.4% in the 1st quarter. Comerica Bank now owns 153,253 shares of the basic materials company’s stock valued at $10,787,000 after purchasing an additional 7,891 shares during the last quarter. Mackay Shields LLC bought a new position in shares of Ashland Global in the 1st quarter valued at $601,000. Victory Capital Management Inc. increased its stake in shares of Ashland Global by 7.4% in the 1st quarter. Victory Capital Management Inc. now owns 898,910 shares of the basic materials company’s stock valued at $62,735,000 after purchasing an additional 61,960 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Ashland Global by 2.2% in the 1st quarter. Swiss National Bank now owns 108,600 shares of the basic materials company’s stock valued at $7,579,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors own 94.52% of the company’s stock.
Several brokerages have recently issued reports on ASH. KeyCorp reiterated a “buy” rating and issued a $93.00 price target on shares of Ashland Global in a research note on Thursday, August 2nd. BMO Capital Markets lifted their price target on Ashland Global from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 2nd. Credit Suisse Group lifted their price target on Ashland Global from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price target on shares of Ashland Global in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. lifted their price target on Ashland Global from $71.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, June 15th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.60.
Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $971.00 million for the quarter, compared to analyst estimates of $1 billion. Ashland Global had a return on equity of 6.36% and a net margin of 1.28%. Ashland Global’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. equities research analysts expect that Ashland Global Holdings Inc will post 3.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Friday, August 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Ashland Global’s previous quarterly dividend of $0.23. Ashland Global’s payout ratio is currently 40.98%.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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