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Ashland (ASH) to Expand Natrosol HEC Capacity at China Site
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Ashland Global Holdings Inc. (ASH - Free Report) recently announced plans to increase production capacity of Natrosol hydroxyethylcellulose (“HEC”) at the Nanjing, China site.
The company’s Natrosol rheology modifiers have been the leading cellulosic thickeners for waterborne architectural coatings for more than five decades. Ashland will build upon the earlier investments in Nanjing and expand production capacity to meet the unprecedented demand and comply with its customer-centric strategy. This expansion signifies Ashland’s commitment toward investing in Asia. Moreover, it supports a key component of the company’s growth strategy to ensure it can serve customer’s growing needs and provide additional supply security worldwide.
Ashland is the leading global manufacturer of HEC and supplies essential ingredients for various industries including paints and coatings, construction, oil and gas, personal care as well as pharmaceutical.
The company stated that the unprecedented demand is a result of consumer trends toward more sustainable solutions including water-based paint. This is also led by a global increase in the building and construction industries and the demand for milder, natural and sustainable solutions in consumer markets.
Shares of Ashland have surged 106.8% in the past year compared with 70.8% rise of the industry.
Ashland logged profits of $56 million in the first quarter of fiscal 2021 and saw 4% increase in sales on a year-over-year basis. Both adjusted earnings per share and sales in the quarter beat the respective Zacks Consensus Estimate. All three segments of the company also delivered sales increase.
Ashland stated that its first-quarter results demonstrate progress toward strategic discipline, consistent organic growth, margin expansion and improved free cash flow conversion. It expects to deliver consistent results moving ahead, notwithstanding the impacts of the coronavirus pandemic on global supply chains and consumers’ behavior.
Ashland currently carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , Nucor Corporation (NUE - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal year. The company’s shares have surged 144.9% in a year. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has a projected earnings growth rate of 122.5% for the current year. The company’s shares have surged around 118% in a year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal year. The company’s shares have rallied 367.7% in the past year. It currently flaunts a Zacks Rank #1.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Ashland (ASH) to Expand Natrosol HEC Capacity at China Site
Ashland Global Holdings Inc. (ASH - Free Report) recently announced plans to increase production capacity of Natrosol hydroxyethylcellulose (“HEC”) at the Nanjing, China site.
The company’s Natrosol rheology modifiers have been the leading cellulosic thickeners for waterborne architectural coatings for more than five decades. Ashland will build upon the earlier investments in Nanjing and expand production capacity to meet the unprecedented demand and comply with its customer-centric strategy. This expansion signifies Ashland’s commitment toward investing in Asia. Moreover, it supports a key component of the company’s growth strategy to ensure it can serve customer’s growing needs and provide additional supply security worldwide.
Ashland is the leading global manufacturer of HEC and supplies essential ingredients for various industries including paints and coatings, construction, oil and gas, personal care as well as pharmaceutical.
The company stated that the unprecedented demand is a result of consumer trends toward more sustainable solutions including water-based paint. This is also led by a global increase in the building and construction industries and the demand for milder, natural and sustainable solutions in consumer markets.
Shares of Ashland have surged 106.8% in the past year compared with 70.8% rise of the industry.
Ashland logged profits of $56 million in the first quarter of fiscal 2021 and saw 4% increase in sales on a year-over-year basis. Both adjusted earnings per share and sales in the quarter beat the respective Zacks Consensus Estimate. All three segments of the company also delivered sales increase.
Ashland stated that its first-quarter results demonstrate progress toward strategic discipline, consistent organic growth, margin expansion and improved free cash flow conversion. It expects to deliver consistent results moving ahead, notwithstanding the impacts of the coronavirus pandemic on global supply chains and consumers’ behavior.
Ashland Global Holdings Inc. Price and Consensus
Ashland Global Holdings Inc. price-consensus-chart | Ashland Global Holdings Inc. Quote
Zacks Rank & Other Key Picks
Ashland currently carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , Nucor Corporation (NUE - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal year. The company’s shares have surged 144.9% in a year. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has a projected earnings growth rate of 122.5% for the current year. The company’s shares have surged around 118% in a year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal year. The company’s shares have rallied 367.7% in the past year. It currently flaunts a Zacks Rank #1.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>