Pacer Advisors Inc.cut its stake in shares of Ashland Global Holdings Inc (NYSE:ASH) by 12.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission.The firm owned 21,755 shares of the basic materials company’s stock after selling 3,156 shares during the period.Pacer Advisors Inc.’s holdings in Ashland Global were worth $1,676,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company.Point72 Hong Kong Ltd boosted its position in Ashland Global by 417.8% during the 2nd quarter.Point72 Hong Kong Ltd now owns 5,722 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 4,617 shares during the period.Swiss National Bank boosted its position in Ashland Global by 2.3% during the 2nd quarter.
Swiss National Bank now owns 116,500 shares of the basic materials company’s stock worth $9,317,000 after purchasing an additional 2,600 shares during the period.
Magnetar Financial LLC purchased a new stake in Ashland Global during the 2nd quarter worth $484,000.Commonwealth Equity Services LLC boosted its position in Ashland Global by 16.6% during the 2nd quarter.Commonwealth Equity Services LLC now owns 15,636 shares of the basic materials company’s stock worth $1,250,000 after purchasing an additional 2,231 shares during the period.Finally, Cardinal Capital Management LLC CT boosted its position in Ashland Global by 9.8% during the 2nd quarter.
Cardinal Capital Management LLC CT now owns 343,963 shares of the basic materials company’s stock worth $27,459,000 after purchasing an additional 30,603 shares during the period.95.91% of the stock is owned by institutional investors.Get Ashland Global alerts:
NYSE:ASH opened at $77.59 on Thursday.The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 1.43.
The firm has a 50-day moving average of $75.66 and a two-hundred day moving average of $76.56.The stock has a market cap of $4.66 billion, a P/E ratio of 28.38, a PEG ratio of 2.10 and a beta of 1.27.Ashland Global Holdings Inc has a 1-year low of $64.93 and a 1-year high of $84.81.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, July 30th.The basic materials company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77.The company had revenue of $641.00 million during the quarter, compared to analysts’ expectations of $640.29 million.Ashland Global had a net margin of 3.63% and a return on equity of 5.15%.The firm’s revenue for the quarter was down 4.0% on a year-over-year basis.During the same period in the prior year, the company posted $0.77 EPS.
As a group, equities analysts expect that Ashland Global Holdings Inc will post 2.72 earnings per share for the current year.
A number of analysts recently weighed in on ASH shares.Wells Fargo & Co started coverage on shares of Ashland Global in a research report on Tuesday.They set an “outperform” rating and a $90.00 price target for the company.SunTrust Banks decreased their price target on shares of Ashland Global from $95.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th.They noted that the move was a valuation call.Zacks Investment Research cut shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday.
Monness Crespi & Hardt raised shares of Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Monday.Finally, ValuEngine cut shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday.
Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company.The company currently has a consensus rating of “Buy” and a consensus target price of $87.38.
Ashland Global Company 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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