Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Ashland Global Holdings Inc (ASH)
Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Ashland Global Holdings Inc (NYSE:ASH) by 17.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,463 shares of the basic materials company’s stock after selling 711 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ashland Global were worth $271,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Boys Arnold & Co. Inc. lifted its stake in Ashland Global by 1.3% in the 4th quarter. Boys Arnold & Co. Inc. now owns 14,425 shares of the basic materials company’s stock worth $1,013,000 after purchasing an additional 180 shares in the last quarter. Alpha Windward LLC raised its position in shares of Ashland Global by 3.0% during the 1st quarter. Alpha Windward LLC now owns 6,279 shares of the basic materials company’s stock valued at $491,000 after buying an additional 180 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Ashland Global by 36.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock valued at $48,000 after buying an additional 182 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Ashland Global by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the basic materials company’s stock valued at $1,313,000 after buying an additional 200 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Ashland Global by 2.2% during the 4th quarter. Bank of Montreal Can now owns 9,336 shares of the basic materials company’s stock valued at $662,000 after buying an additional 202 shares during the period. 92.98% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Osama M. Musa sold 2,156 shares of Ashland Global stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $78.87, for a total value of $170,043.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Heitman sold 7,203 shares of Ashland Global stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.49, for a total transaction of $572,566.47. Following the completion of the sale, 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 ninety days, insiders have sold 17,221 shares of company stock worth $1,359,296. Corporate insiders own 1.14% of the company’s stock.
Ashland Global (NYSE:ASH) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $680.96 million. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The business’s revenue for the quarter was down 31.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. Analysts forecast that Ashland Global Holdings Inc will post 2.99 earnings per share for the current year.
ASH has been the topic of several analyst reports. TheStreet raised shares of Ashland Global from a “c+” rating to a “b” rating in a research report on Wednesday, May 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Ashland Global in a research report on Monday, February 4th. Finally, Zacks Investment Research lowered shares of Ashland Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Ashland Global has a consensus rating of “Buy” and a consensus target price of $89.80.
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About Ashland Global
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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