World Asset Management Inc bought a new position in shares of Ashland Global Holdings Inc (NYSE:ASH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,477 shares of the basic materials company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Naya Capital Management UK Ltd. raised its stake in shares of Ashland Global by 19.8% during the 1st quarter. Naya Capital Management UK Ltd. now owns 2,824,098 shares of the basic materials company’s stock worth $141,403,000 after buying an additional 466,628 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Ashland Global by 22.4% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,207,397 shares of the basic materials company’s stock worth $110,524,000 after buying an additional 404,657 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Ashland Global by 3.1% during the 1st quarter. Schroder Investment Management Group now owns 1,274,250 shares of the basic materials company’s stock worth $64,082,000 after buying an additional 37,984 shares during the last quarter. UBS Group AG raised its stake in shares of Ashland Global by 5.6% during the 1st quarter. UBS Group AG now owns 882,847 shares of the basic materials company’s stock worth $44,204,000 after buying an additional 47,107 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ashland Global by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 671,165 shares of the basic materials company’s stock worth $33,605,000 after buying an additional 8,537 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

NYSE ASH opened at $75.48 on Friday. The stock has a market cap of $4.54 billion, a PE ratio of 29.23, a P/E/G ratio of 2.76 and a beta of 1.46. Ashland Global Holdings Inc has a fifty-two week low of $38.88 and a fifty-two week high of $81.82. The business has a 50 day moving average price of $70.93 and a two-hundred day moving average price of $66.29. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.56.

Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, July 28th. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). The firm had revenue of $574.00 million for the quarter, compared to analyst estimates of $574.61 million. Ashland Global had a negative net margin of 4.39% and a positive return on equity of 4.79%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Sell-side analysts anticipate that Ashland Global Holdings Inc will post 2.55 EPS for the current fiscal year.

Several research analysts recently weighed in on the stock. Credit Suisse Group reissued a “buy” rating and issued a $91.00 target price on shares of Ashland Global in a research note on Tuesday. Deutsche Bank boosted their target price on shares of Ashland Global from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Co upped their price objective on shares of Ashland Global from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Monness Crespi & Hardt upped their price objective on shares of Ashland Global from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets raised shares of Ashland Global from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $87.00 to $75.00 in a research note on Monday, April 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $82.60.

Ashland Global Profile

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.

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

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