Seaport Res Ptn Weighs in on Ashland Global Holdings Inc.’s FY2022 Earnings (NYSE:ASH)

Ashland Global Holdings Inc. (NYSE:ASHGet Rating) – Analysts at Seaport Res Ptn raised their FY2022 earnings estimates for Ashland Global in a note issued to investors on Thursday, July 28th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $5.76 per share for the year, up from their previous forecast of $5.74. The consensus estimate for Ashland Global’s current full-year earnings is $5.58 per share. Seaport Res Ptn also issued estimates for Ashland Global’s FY2023 earnings at $6.54 EPS.

Ashland Global (NYSE:ASHGet Rating) last issued its earnings results on Tuesday, July 26th. The basic materials company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.22. Ashland Global had a net margin of 38.83% and a return on equity of 10.59%. During the same quarter in the prior year, the company earned $1.22 earnings per share.

A number of other equities analysts also recently commented on ASH. Stifel Nicolaus boosted their target price on shares of Ashland Global from $136.00 to $140.00 in a research note on Monday, July 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ashland Global from $122.00 to $120.00 in a research note on Tuesday, July 19th. BMO Capital Markets restated a “maintains” rating on shares of Ashland Global in a research note on Thursday. UBS Group upped their price objective on shares of Ashland Global from $127.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, TheStreet upgraded shares of Ashland Global from a “c” rating to a “b-” rating in a research note on Tuesday, April 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.75.

Ashland Global Stock Performance

Shares of ASH stock opened at $100.47 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $102.47 and a 200 day moving average price of $99.38. The company has a market cap of $5.48 billion, a P/E ratio of 6.32 and a beta of 1.10. Ashland Global has a 12 month low of $81.93 and a 12 month high of $112.91.

Institutional Trading of Ashland Global

Large investors have recently modified their holdings of the business. State Street Corp grew its position in shares of Ashland Global by 1.7% in the fourth quarter. State Street Corp now owns 1,775,929 shares of the basic materials company’s stock valued at $191,197,000 after purchasing an additional 28,967 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ashland Global by 85.0% in the 1st quarter. SG Americas Securities LLC now owns 25,968 shares of the basic materials company’s stock valued at $2,556,000 after purchasing an additional 11,932 shares during the last quarter. PFG Private Wealth Management LLC acquired a new position in shares of Ashland Global in the 1st quarter valued at $113,000. Covestor Ltd acquired a new position in shares of Ashland Global in the 4th quarter valued at $71,000. Finally, Bank of America Corp DE boosted its holdings in shares of Ashland Global by 43.8% in the 4th quarter. Bank of America Corp DE now owns 66,988 shares of the basic materials company’s stock valued at $7,212,000 after purchasing an additional 20,414 shares during the last quarter. 96.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ashland Global news, insider Eric N. Boni sold 2,657 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $109.50, for a total value of $290,941.50. Following the completion of the transaction, the insider now directly owns 10,640 shares of the company’s stock, valued at $1,165,080. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Eric N. Boni sold 2,657 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $109.50, for a total value of $290,941.50. Following the sale, the insider now directly owns 10,640 shares in the company, valued at $1,165,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO J Kevin Willis sold 4,235 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $105.58, for a total transaction of $447,131.30. Following the completion of the sale, the chief financial officer now owns 4,066 shares in the company, valued at $429,288.28. The disclosure for this sale can be found here. 7.79% of the stock is currently owned by corporate insiders.

Ashland Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a dividend of $0.335 per share. This is a boost from Ashland Global’s previous quarterly dividend of $0.30. This represents a $1.34 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, May 31st. Ashland Global’s dividend payout ratio is currently 8.43%.

Ashland Global declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Ashland Global Company Profile

(Get Rating)

Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.

Further Reading

Earnings History and Estimates for Ashland Global (NYSE:ASH)

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