Ashland Global Holdings Inc (NYSE:ASH) Stake Lowered by Cooper Creek Partners Management LLC

Cooper Creek Partners Management LLC trimmed its holdings in shares of Ashland Global Holdings Inc (NYSE:ASH) by 52.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,352 shares of the basic materials company’s stock after selling 58,500 shares during the period. Cooper Creek Partners Management LLC’s holdings in Ashland Global were worth $4,168,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ashland Global by 517.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 358 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 300 shares during the period. Ffcm LLC bought a new stake in shares of Ashland Global during the 4th quarter worth $28,000. Semmax Financial Advisors Inc. bought a new stake in shares of Ashland Global during the 4th quarter worth $28,000. Doyle Wealth Management bought a new stake in shares of Ashland Global during the 4th quarter worth $45,000. Finally, Claybrook Capital LLC bought a new stake in shares of Ashland Global during the 4th quarter worth $48,000. Institutional investors own 95.11% of the company’s stock.

ASH traded down $1.84 during trading hours on Friday, hitting $78.25. The stock had a trading volume of 779,546 shares, compared to its average volume of 1,034,495. Ashland Global Holdings Inc has a 1 year low of $64.93 and a 1 year high of $86.63. The firm has a market cap of $4.91 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27.

Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The company had revenue of $667.00 million during the quarter, compared to analyst estimates of $680.96 million. During the same quarter last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was down 31.5% on a year-over-year basis. As a group, research analysts predict that Ashland Global Holdings Inc will post 2.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Monday, June 3rd were issued a $0.275 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.10 annualized dividend and a yield of 1.41%. This is a positive change from Ashland Global’s previous quarterly dividend of $0.25. Ashland Global’s dividend payout ratio (DPR) is 30.73%.

ASH has been the topic of a number of recent analyst reports. TheStreet upgraded Ashland Global from a “c+” rating to a “b” rating in a research note on Wednesday, May 1st. ValuEngine upgraded Ashland Global from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. cut Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 target price on the stock. in a research note on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Ashland Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Ashland Global currently has an average rating of “Buy” and an average price target of $90.88.

In other Ashland Global news, insider Peter Ganz sold 1,562 shares of Ashland Global stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.32, for a total transaction of $116,087.84. Following the completion of the transaction, the insider now owns 40,150 shares of the company’s stock, valued at approximately $2,983,948. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William J. Heitman sold 6,300 shares of Ashland Global stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.46, for a total value of $500,598.00. Following the transaction, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $500,836.38. The disclosure for this sale can be found here. In the last three months, insiders sold 15,065 shares of company stock valued at $1,189,252. 1.14% of the stock is currently owned by insiders.

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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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