Short Interest in Ashland Global Holdings Inc. (NYSE:ASH) Drops By 21.4%

Ashland Global Holdings Inc. (NYSE:ASHGet Rating) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,200,000 shares, a drop of 21.4% from the March 15th total of 2,800,000 shares. Approximately 3.9% of the company’s shares are sold short. Based on an average trading volume of 488,100 shares, the days-to-cover ratio is presently 4.5 days.

A number of analysts recently issued reports on ASH shares. JPMorgan Chase & Co. lowered their price target on Ashland Global from $109.00 to $107.00 and set a “neutral” rating for the company in a report on Wednesday, January 19th. Wells Fargo & Company lowered Ashland Global from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $120.00 to $110.00 in a research report on Wednesday, January 19th. Mizuho lifted their target price on Ashland Global from $127.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, March 25th. StockNews.com started coverage on Ashland Global in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Ashland Global from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, April 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $119.88.

ASH opened at $106.22 on Monday. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 30.35 and a beta of 1.28. The company has a current ratio of 1.91, a quick ratio of 1.33 and a debt-to-equity ratio of 0.57. Ashland Global has a 12 month low of $81.93 and a 12 month high of $110.74. The stock has a fifty day moving average of $95.11.

Ashland Global (NYSE:ASHGet Rating) last released its quarterly earnings results on Tuesday, February 1st. The basic materials company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The firm had revenue of $512.00 million during the quarter, compared to analyst estimates of $512.44 million. Ashland Global had a return on equity of 8.92% and a net margin of 9.07%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. On average, research analysts forecast that Ashland Global will post 5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, February 28th. Ashland Global’s payout ratio is 34.29%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its stake in Ashland Global by 22.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,795 shares of the basic materials company’s stock worth $516,000 after buying an additional 880 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ashland Global by 43.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,644 shares of the basic materials company’s stock worth $823,000 after buying an additional 2,315 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Ashland Global by 7.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 491,000 shares of the basic materials company’s stock worth $43,758,000 after buying an additional 35,000 shares during the last quarter. Verition Fund Management LLC grew its stake in Ashland Global by 56.7% during the 3rd quarter. Verition Fund Management LLC now owns 9,816 shares of the basic materials company’s stock worth $875,000 after buying an additional 3,552 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Ashland Global by 0.8% during the 3rd quarter. Invesco Ltd. now owns 532,447 shares of the basic materials company’s stock worth $47,451,000 after buying an additional 4,330 shares during the last quarter. 91.88% of the stock is owned by hedge funds and other institutional investors.

Ashland Global Company Profile (Get Rating)

Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care & Household, Specialty Additives, and Intermediates and Solvents.

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