Ashland Global Holdings Inc . ASH has launched Derakane Signia resins for the corrosion industry. The latest product comes with a new formula that has an undeniable detection system to verify the integrity of designs. The resins offer the same corrosion resistance and has mechanical properties with improved processing.
Prior to this, design engineers and end users had specified Ashland Derakane resins for FRP piping and tanks, in safety-critical markets like chemical processing, air pollution control, mineral processing and water treatment. Signia improves manufacturing efficiencies and lowers emission with an innovative styrene suppressant technology.
The resins are formulated to provide a no-prep surface, increased secondary bonding and reduced gassing for faster consolidation and less processing time and labor. It also helps in reducing odor and dust that improves overall work environment for employees and provides a longer shelf life to maintain workability for an extended time frame.
Shares of Ashland have gained 3.8% over the past six months, outperforming the industry 's 3.8% decline.
For fiscal 2018, Ashland updated its adjusted earnings outlook to a range of $2.90-$3.10 per share owing to changes in the company's effective tax rate. Also, the company raised effective tax rate expectation for the fiscal as a result of the recently enacted tax reform. This, in turn, is expected to reduce fiscal 2018 adjusted earnings by roughly 30 cents per share.
For second-quarter fiscal 2018, Ashland projects adjusted earnings in the range of 80-90 cents per share compared with 70 cents in the prior-year period. The company expects the benefit of pricing actions to be partly offset in the quarter by the impact of the planned maintenance shutdown in the Marl, Germany, facility.
Ashland Global Holdings Inc. Price and Consensus
Ashland Global Holdings Inc. Price and Consensus | Ashland Global Holdings Inc. Quote
Zacks Rank & Stocks to Consider
Ashland currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kronos Worldwide Inc. KRO , Methanex Corporation MEOH and LyondellBasell Industries N.V. LYB .
Kronos has an expected long-term earnings growth rate of 5% and sports a Zacks Rank #1 (Strong Buy). The company's shares have moved up 53.8% in a year. You can see the complete list of today's Zacks #1 Rank stocks here .
Methanex has an expected long-term earnings growth rate of 15% and flaunts a Zacks Rank #1. Its shares have gained 46.2% over a year.
LyondellBasell has an expected long-term earnings growth rate of 9% and carries a Zacks Rank #2 (Buy). Its shares have moved up 22.1% in a year.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ashland Global Holdings Inc. (ASH): Free Stock Analysis Report Methanex Corporation (MEOH): Free Stock Analysis Report Kronos Worldwide Inc (KRO): Free Stock Analysis Report LyondellBasell Industries N.V. (LYB): Free Stock Analysis Report To read this article on Zacks.com click here.