Neuberger Berman Group LLC Raises Stake in Ashland Global Holdings Inc. (ASH)

Neuberger Berman Group LLC grew its holdings in Ashland Global Holdings Inc. (NYSE:ASH) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,354,447 shares of the basic materials company’s stock after acquiring an additional 17,839 shares during the period. Neuberger Berman Group LLC owned about 2.17% of Ashland Global worth $88,567,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Evercore Trust Company N.A. grew its holdings in Ashland Global by 113.3% during the 2nd quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock valued at $143,580,000 after purchasing an additional 1,157,131 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Ashland Global during the 2nd quarter valued at $54,562,000. Ameriprise Financial Inc. grew its holdings in Ashland Global by 325.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 842,988 shares of the basic materials company’s stock valued at $55,559,000 after purchasing an additional 644,983 shares in the last quarter. Schroder Investment Management Group grew its holdings in Ashland Global by 132.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,119,235 shares of the basic materials company’s stock valued at $73,814,000 after purchasing an additional 638,040 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in Ashland Global during the 2nd quarter valued at $37,984,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Ashland Global Holdings Inc. (ASH) opened at $70.53 on Friday. The firm has a market cap of $4,389.35, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The company has a current ratio of 1.97, a quick ratio of 1.31 and a debt-to-equity ratio of 0.76. Ashland Global Holdings Inc. has a fifty-two week low of $59.80 and a fifty-two week high of $128.19.

Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million for the quarter, compared to analyst estimates of $869.62 million. Ashland Global’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 earnings per share. sell-side analysts predict that Ashland Global Holdings Inc. will post 3.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, November 30th. Ashland Global’s dividend payout ratio is currently -9,000,000.00%.

In other Ashland Global news, CFO J Kevin Willis sold 916 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $70.61, for a total transaction of $64,678.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Ganz sold 3,379 shares of the firm’s 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. Over the last three months, insiders have sold 16,342 shares of company stock valued at $1,148,839. 1.14% of the stock is owned by company insiders.

ASH has been the subject of a number of recent analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $74.00 price target on shares of Ashland Global in a report on Sunday, September 3rd. Zacks Investment Research raised shares of Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, October 24th. Deutsche Bank raised their price target on shares of Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Credit Suisse Group raised their price target on shares of Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. Finally, UBS raised their price objective on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Ashland Global currently has a consensus rating of “Hold” and a consensus price target of $82.57.

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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.

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

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