Ashland Global Holdings Inc. ( ASH Quick Quote ASH - Free Report) has announced the introduction of Aquaflow ECO-300, a high shear, biocide-free, nonionic synthetic thickener for high-performance waterborne paints and coatings. These synthetic thickeners are efficient and capable of building rheology in paints and coatings through interplay with other ingredients. Aquaflow’s rheology modifiers have the feature of functioning as drop-in replacements for urethane-type (HEUR) thickeners and working in unison with various nonionic cellulose ethers.
The company noted that it is committed to reducing the detrimental environmental impact and broadening its sustainable solution offerings. Aquaflow ECO-300 will be a step in this direction.
The product can be transported in paper sacks instead of intermediate bulk containers (IBCs), which can bring down the amount of plastic in the supply chain and greenhouse gas emissions generated from IBC shipments. There is no residual waste generation and no dependency on energy-intensive temperature control. These features of the shipment will allow the company to contribute to an estimated 80% reduction in carbon dioxide emissions.
Shares of Ashland have grown 29.1% in a year against the
industry’s decline of 22.3%. The estimated earnings growth rate for the current fiscal year is pegged at 73.9%. Image Source: Zacks Investment Research
In the fiscal second quarter, the company recorded earnings of $1.05 per share, missing the Zacks Consensus Estimate of $1.36. Sales were down around 2% year over year to $598 million, missing the Zacks Consensus Estimate of $632.6 million.
The company’s results were hurt by weather-related disruptions in the U.S. Gulf Coast and changing consumer habits amid the coronavirus pandemic. However, it benefited from improved industrial demand and cost-reduction actions. Ashland expects to recover part of the lost cost as the affected facilities work to make up for some of the lost production during the fiscal second quarter.
Zacks Rank & Stocks to Consider
Currently, Ashland carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are
DAQO New Energy Corp. ( DQ Quick Quote DQ - Free Report) , Valvoline Inc. ( VVV Quick Quote VVV - Free Report) and Ferro Corporation ( FOE Quick Quote FOE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
DAQO has a projected earnings growth rate of 398.3% for the current year. The company’s shares have surged a whopping 517% in a year.
Valvoline has a projected earnings growth rate of 20.9% for the current year. The company’s shares have grown 74.3% in a year.
Ferro has a projected earnings growth rate of 54.3% for the current year. The company’s shares have grown 63.7% in a year.
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