Vident Investment Advisory LLC Invests $2.52 Million in Ashland Global Holdings Inc. (ASH)

Vident Investment Advisory LLC acquired a new stake in Ashland Global Holdings Inc. (NYSE:ASH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,481 shares of the basic materials company’s stock, valued at approximately $2,516,000. Vident Investment Advisory LLC owned 0.06% of Ashland Global as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning grew its holdings in shares of Ashland Global by 7.1% during the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares in the last quarter. World Asset Management Inc grew its holdings in shares of Ashland Global by 2.4% during the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after buying an additional 104 shares in the last quarter. Aviva PLC grew its holdings in shares of Ashland Global by 0.3% during the second quarter. Aviva PLC now owns 38,655 shares of the basic materials company’s stock worth $2,548,000 after buying an additional 120 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Ashland Global by 1.0% during the second quarter. Ameritas Investment Partners Inc. now owns 29,122 shares of the basic materials company’s stock worth $1,919,000 after buying an additional 281 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Ashland Global by 3.3% during the second quarter. Pacer Advisors Inc. now owns 9,031 shares of the basic materials company’s stock worth $595,000 after buying an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Deutsche Bank lifted their price target on shares of Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks reiterated a “buy” rating and set a $74.00 price target on shares of Ashland Global in a report on Friday, November 10th. UBS boosted their target price on shares of Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Finally, Jefferies Group restated a “buy” rating and issued a $77.00 target price (up from $74.00) on shares of Ashland Global in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Ashland Global has a consensus rating of “Hold” and an average target price of $82.57.

Shares of Ashland Global Holdings Inc. (ASH) opened at $70.72 on Tuesday. 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 $53.79 and a 52 week high of $74.75. The stock has a market cap of $4,364.45, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10.

Ashland Global (NYSE:ASH) last released its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the 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 prior year, the firm earned $1.52 earnings per share. Ashland Global’s quarterly revenue was up 16.7% compared to the same quarter last year. sell-side analysts predict that Ashland Global Holdings Inc. will post 3.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.225 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. Ashland Global’s payout ratio is currently -9,000,000.00%.

In other news, CFO J Kevin Willis sold 8,152 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $70.70, for a total transaction of $576,346.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter Ganz sold 3,379 shares of the business’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 worth $1,148,839. Corporate insiders own 1.14% of the company’s stock.

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Ashland Global 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.

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

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