California Public Employees Retirement System increased its position in shares of Ashland Global Holdings Inc. (NYSE:ASH) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,527 shares of the basic materials company’s stock after acquiring an additional 6,000 shares during the quarter. California Public Employees Retirement System owned 0.29% of Ashland Global Holdings worth $11,767,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Ashland Global Holdings by 1.1% during the first quarter. HighTower Advisors LLC now owns 3,851 shares of the basic materials company’s stock valued at $476,000 after acquiring an additional 42 shares during the period. Creative Planning increased its stake in Ashland Global Holdings by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after buying an additional 101 shares during the period. World Asset Management Inc increased its stake in Ashland Global Holdings by 2.4% in the 2nd quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock valued at $292,000 after buying an additional 104 shares during the period. Aviva PLC increased its stake in Ashland Global Holdings by 0.3% in the 2nd quarter. Aviva PLC now owns 38,655 shares of the basic materials company’s stock valued at $2,548,000 after buying an additional 120 shares during the period. Finally, Capstone Asset Management Co. increased its stake in Ashland Global Holdings by 3.4% in the 2nd quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock valued at $420,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 92.47% of the company’s stock.

Several research firms have weighed in on ASH. TheStreet upgraded shares of Ashland Global Holdings from a “c” rating to a “b+” rating in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “buy” rating on shares of Ashland Global Holdings in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Ashland Global Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub lowered shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Deutsche Bank AG dropped their price objective on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $88.83.

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Ashland Global Holdings Inc. (NYSE:ASH) opened at 67.00 on Friday. The stock’s 50 day moving average is $63.25 and its 200 day moving average is $63.49. Ashland Global Holdings Inc. has a 52 week low of $51.61 and a 52 week high of $67.90. The firm’s market cap is $4.18 billion.

Ashland Global Holdings (NYSE:ASH) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The company had revenue of $870.00 million for the quarter, compared to the consensus estimate of $842.78 million. During the same period last year, the company earned $1.95 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts expect that Ashland Global Holdings Inc. will post $4.39 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.225 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. Ashland Global Holdings’s dividend payout ratio (DPR) is presently -25.42%.

Ashland Global Holdings Company 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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Institutional Ownership by Quarter for Ashland Global Holdings (NYSE:ASH)

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