Ashland Global Holdings Inc. (NYSE:ASH) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS
Ashland Global Holdings Inc. (NYSE:ASH) issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.13, Bloomberg Earnings reports. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The firm had revenue of $870 million for the quarter, compared to the consensus estimate of $842.78 million. During the same quarter in the previous year, the firm earned $1.95 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year.
Ashland Global Holdings (NYSE ASH) traded down 0.41% during mid-day trading on Friday, reaching $60.82. 1,331,040 shares of the company were exchanged. The stock has a 50-day moving average of $65.25 and a 200 day moving average of $62.33. The firm’s market capitalization is $3.80 billion. Ashland Global Holdings has a 1-year low of $51.61 and a 1-year high of $67.90.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, August 30th. Ashland Global Holdings’s dividend payout ratio (DPR) is presently -25.42%.
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A number of research analysts have recently issued reports on ASH shares. TheStreet raised shares of Ashland Global Holdings from a “c+” rating to a “b” rating in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ashland Global Holdings in a research report on Friday, June 23rd. ValuEngine raised shares of Ashland Global Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Finally, BidaskClub downgraded shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $88.33.
A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Ashland Global Holdings by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,105,789 shares of the basic materials company’s stock worth $72,884,000 after buying an additional 156,008 shares during the period. Parametric Portfolio Associates LLC increased its stake in Ashland Global Holdings by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 131,166 shares of the basic materials company’s stock worth $8,645,000 after buying an additional 383 shares during the period. South Street Advisors LLC increased its position in Ashland Global Holdings by 0.8% in the second quarter. South Street Advisors LLC now owns 81,130 shares of the basic materials company’s stock valued at $5,347,000 after buying an additional 625 shares during the period. Suntrust Banks Inc. increased its position in Ashland Global Holdings by 27.0% in the second quarter. Suntrust Banks Inc. now owns 19,280 shares of the basic materials company’s stock valued at $1,269,000 after buying an additional 4,097 shares during the period. Finally, Pacific Alternative Asset Management Company LLC purchased a new position in Ashland Global Holdings during the second quarter valued at about $1,401,000. 90.05% of the stock is owned by institutional investors.
About Ashland Global Holdings
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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