Leon Cooperman Stock Portfolio: Top 12 Picks

10. Ashland Global Holdings Inc. (NYSE:ASH)

Total Number of Shares Owned: 982,047

Total Value of Shares Owned: $92,793,621

Number of Hedge Fund Investors: 25

The bullish outlook for Ashland Global Holdings Inc. (NYSE:ASH) is primarily driven by its strong performance in Q2 2024, where the company exceeded both earnings and revenue expectations despite facing some challenges in certain areas. Ashland Global Holdings Inc. (NYSE:ASH) reported earnings per share (EPS) of $1.27, surpassing the forecast of $1.14, and generated revenue of $575 million, which was slightly above analyst estimates.

This success was largely fueled by growth in its Personal Care segment, where sales increased by 1.2% due to higher demand for skin, oral, and hair care products. Additionally, the Specialty Additives segment also performed well, achieving $157 million in sales, even amid price reductions in Asia.

Moreover, Ashland Global Holdings Inc. (NYSE:ASH)’s proactive approach to cost management and strategic initiatives, such as divesting its nutraceutical business to streamline operations, contribute positively to its long-term outlook. Ashland Global Holdings Inc. (NYSE:ASH)’s commitment to returning value to shareholders is evident in its recent 5.2% increase in dividends, further strengthening the case for optimism about its future performance. These factors combined position Ashland Global Holdings Inc. (NYSE:ASH) as a solid investment opportunity.