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Ashland (ASH) to Review Performance Adhesives Business Unit
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Ashland Global Holdings Inc. (ASH - Free Report) recently declared a strategic review of its Performance Adhesives business unit. It plans to assess all options with respect to the business unit, including a potential sale.
This is in line with the company’s strategy to expand its integrated additive ingredients portfolio as well as focus on its leadership positions in its core pharma, personal care and coatings businesses.
The company stated that Ashland’s performance adhesives business unit has delivered excellent financial performance with a strong and dedicated business team that excels at solutions in key niche markets.
It expects strong financing availability, low interest rates and improving global macroeconomic conditions to create a supportive backdrop for a potential divestment of the business unit.
Ashland also intends to bump up capital deployment toward its core additives portfolio consisting of life sciences, personal care and household as well as specialty additives. It plans to prioritize the expansion of its high-value pharmaceuticals and personal care businesses to boost shareholders’ value through higher margins and focused growth capital deployment, including potential bolt-on acquisitions.
Ashland expects the strategic review to be completed by the end of calendar year 2021. The company retained Citi to assist in the review process.
Shares of Ashland have gained 38% in the past year against 17.9% fall of the industry.
Image Source: Zacks Investment Research
The company’s results in the second-quarter fiscal 2021, were hurt by weather-related disruptions in the U.S. Gulf Coast and changing consumer habits amid the coronavirus pandemic. Ashland, in its second-quarter call, stated that it expects to recover a part of the lost cost absorption for the fiscal year, as affected facilities are working to make up for some of the lost production during the fiscal second quarter. The company also reaffirmed its expectations for full-year results.
Some better-ranked stocks in the basic materials space are Dow Inc. (DOW - Free Report) , Nucor Corporation (NUE - Free Report) and Cabot Corporation (CBT - Free Report) .
Dow has a projected earnings growth rate of around 261.5% for the current year. The company’s shares have surged 68.5% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has an expected earnings growth rate of around 238% for the current year. The company’s shares have gained 137.2% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of roughly 126% for the current fiscal. The company’s shares have surged 69.5% in the past year. It currently flaunts a Zacks Rank #1.
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Ashland (ASH) to Review Performance Adhesives Business Unit
Ashland Global Holdings Inc. (ASH - Free Report) recently declared a strategic review of its Performance Adhesives business unit. It plans to assess all options with respect to the business unit, including a potential sale.
This is in line with the company’s strategy to expand its integrated additive ingredients portfolio as well as focus on its leadership positions in its core pharma, personal care and coatings businesses.
The company stated that Ashland’s performance adhesives business unit has delivered excellent financial performance with a strong and dedicated business team that excels at solutions in key niche markets.
It expects strong financing availability, low interest rates and improving global macroeconomic conditions to create a supportive backdrop for a potential divestment of the business unit.
Ashland also intends to bump up capital deployment toward its core additives portfolio consisting of life sciences, personal care and household as well as specialty additives. It plans to prioritize the expansion of its high-value pharmaceuticals and personal care businesses to boost shareholders’ value through higher margins and focused growth capital deployment, including potential bolt-on acquisitions.
Ashland expects the strategic review to be completed by the end of calendar year 2021. The company retained Citi to assist in the review process.
Shares of Ashland have gained 38% in the past year against 17.9% fall of the industry.
The company’s results in the second-quarter fiscal 2021, were hurt by weather-related disruptions in the U.S. Gulf Coast and changing consumer habits amid the coronavirus pandemic. Ashland, in its second-quarter call, stated that it expects to recover a part of the lost cost absorption for the fiscal year, as affected facilities are working to make up for some of the lost production during the fiscal second quarter. The company also reaffirmed its expectations for full-year results.
Ashland Global Holdings Inc. Price and Consensus
Ashland Global Holdings Inc. price-consensus-chart | Ashland Global Holdings Inc. Quote
Zacks Rank & Key Picks
Ashland currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Dow Inc. (DOW - Free Report) , Nucor Corporation (NUE - Free Report) and Cabot Corporation (CBT - Free Report) .
Dow has a projected earnings growth rate of around 261.5% for the current year. The company’s shares have surged 68.5% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has an expected earnings growth rate of around 238% for the current year. The company’s shares have gained 137.2% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of roughly 126% for the current fiscal. The company’s shares have surged 69.5% in the past year. It currently flaunts a Zacks Rank #1.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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