Ashland’s new product
Last week, Ashland (ASH) announced that it launched the Maxguard EZM marine white gelcoat for marine applications. ASH claims that this product boasts an easier application in complex molds and can withstand adverse weather. This gelcoat also has high-level resistance to ultraviolet and blistering.
Ryan Wilkins, Ashland’s marine gelcoat product manager, said, “Ashland’s solvers thrive on developing practical, innovative and elegant solutions to complex problems, always pushing the boundaries of what’s possible to advance the competitiveness of our customers. Our new gelcoat enables our customers to improve the usability of their products and allows them to achieve outstanding performance across an array of challenging applications by improving spray and leveling, stability, and air release.”
Update on Ashland’s stock performance
Ashland made a marginal gain of 0.10% and closed at $74.12 for the week ended January 12, 2018. The gain has resulted in the stock trading at a 52-week high, which is 9.5% higher than the 100-day moving average price of $59.90. Analysts are bullish on the stock and have provided a target price of $76.11, implying a return potential of 2.7% over the closing price as of January 12, 2018. ASH’s 14-day relative strength index of 67 indicates that the stock is neither overbought nor oversold.
The PowerShares S&P MidCap Low Volatility Portfolio (XMLV) had 1.4% of its portfolio in Ashland as of January 12, 2018. XMLV also provides exposure to stocks like Brown & Brown (BRO), Westar Energy (WR), and Rollins (ROL), which had weights of 1.6%, 1.5%, and 1.3%, respectively, as of January 12, 2018.