Shikiar Asset Management Inc. Boosts Stake in Ashland Global Holdings Inc (ASH)

Shikiar Asset Management Inc. grew its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,185 shares of the basic materials company’s stock after purchasing an additional 12,815 shares during the quarter. Ashland Global makes up about 2.4% of Shikiar Asset Management Inc.’s portfolio, making the stock its 14th biggest holding. Shikiar Asset Management Inc. owned approximately 0.12% of Ashland Global worth $5,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ASH. Ffcm LLC purchased a new stake in Ashland Global during the fourth quarter worth about $28,000. Semmax Financial Advisors Inc. purchased a new stake in Ashland Global during the fourth quarter worth about $28,000. Doyle Wealth Management purchased a new stake in shares of Ashland Global during the fourth quarter worth approximately $45,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Ashland Global by 36.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock worth $48,000 after buying an additional 182 shares during the period. Finally, Claybrook Capital LLC purchased a new stake in shares of Ashland Global during the fourth quarter worth approximately $48,000. 92.52% of the stock is currently owned by institutional investors.

Shares of Ashland Global stock traded up $1.34 during trading hours on Friday, hitting $73.51. 1,093,010 shares of the company were exchanged, compared to its average volume of 721,181. The stock has a market capitalization of $4.52 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. Ashland Global Holdings Inc has a 1 year low of $64.93 and a 1 year high of $86.63.

Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. Ashland Global’s revenue was down 31.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. As a group, equities research analysts anticipate that Ashland Global Holdings Inc will post 2.99 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Monday, June 3rd will be given a $0.275 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Ashland Global’s previous quarterly dividend of $0.25. Ashland Global’s dividend payout ratio (DPR) is currently 27.93%.

A number of analysts recently weighed in on ASH shares. TheStreet upgraded shares of Ashland Global from a “c+” rating to a “b” rating in a research note on Wednesday, May 1st. ValuEngine downgraded Ashland Global from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Ashland Global in a report on Monday, February 4th. Finally, Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $89.80.

In other news, insider Osama M. Musa sold 2,156 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $78.87, for a total value of $170,043.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William J. Heitman sold 7,203 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.49, for a total value of $572,566.47. Following the completion of the transaction, the insider now owns 6,303 shares of the company’s stock, valued at approximately $501,025.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,221 shares of company stock valued at $1,359,296. Company insiders own 1.14% of the company’s stock.

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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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