Ashland Global Holdings Inc. (NYSE:ASH) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 11,834 call options on the company. This represents an increase of approximately 6,986% compared to the typical volume of 167 call options.
In other news, insider Peter Ganz sold 3,379 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $70.63, for a total value of $238,658.77. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO J Kevin Willis sold 1,352 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $66.23, for a total transaction of $89,542.96. The disclosure for this sale can be found here. Insiders have sold 16,342 shares of company stock valued at $1,148,839 in the last quarter. Company insiders own 1.14% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sawyer & Company Inc purchased a new stake in Ashland Global in the fourth quarter valued at approximately $157,000. Chicago Partners Investment Group LLC raised its stake in Ashland Global by 600.3% in the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 1,999 shares in the last quarter. Commonwealth Equity Services Inc purchased a new stake in Ashland Global in the third quarter valued at approximately $234,000. Sciencast Management LP purchased a new stake in Ashland Global in the second quarter valued at approximately $271,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in Ashland Global in the fourth quarter valued at approximately $309,000. 91.74% of the stock is currently owned by institutional investors and hedge funds.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $880.00 million during the quarter, compared to analysts’ expectations of $869.62 million. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. research analysts predict that Ashland Global will post 3.42 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, November 30th. Ashland Global’s dividend payout ratio is currently -53.25%.
A number of brokerages have recently issued reports on ASH. Jefferies Group reissued a “buy” rating and issued a $77.00 price target (up from $74.00) on shares of Ashland Global in a report on Tuesday, September 26th. SunTrust Banks reissued a “buy” rating and issued a $74.00 price target on shares of Ashland Global in a report on Friday, November 10th. Zacks Investment Research downgraded shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Deutsche Bank increased 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. Finally, UBS Group increased 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 Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $82.57.
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About Ashland Global
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.
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