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Ashland Introduces Signia for Corrosion Control

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Ashland’s new launch

On April 11, 2018, Ashland Global Holdings (ASH) announced the launch of its Derakane Signia resins. The new product is designed to be used in FRP (fiberglass reinforced plastic) piping and tanks, chemical processing, air pollution control, mineral processing, and water treatment.

Andrew Miller, Ashland’s commercial director of the Composites segment, noted, “With the launch of Derakane Signia, Ashland demonstrates its continued commitment to this market with a product that delivers additional benefits to our customers and end users. Our team of experts, with a combined industry experience of more than 200 years, have developed something that raises the bar in the industry.”

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Ashland’s stock price

Ashland Global Holdings (ASH) stock gained ~1.4% and closed at $69.54 on April 13, 2018. Despite these gains, the stock still traded ~2.8% below its 100-day moving average price of $71.50, indicating some weakness in the stock. 

On a year-to-date basis, ASH stock has declined 2.2%. Ashland’s 14-day relative strength index (or RSI) of 47 indicates that the stock isn’t overbought or oversold.

Ashland outperformed the PowerShares S&P MidCap Low Volatility Portfolio ETF (XMLV), which gained ~ 0.5% during the same period. XMLV invests 1.1% of its portfolio in Ashland. XMLV also provides exposure to Brown & Brown (BRO), Westar Energy (WR), and Rollins (ROL) with weights of 1.5%, 1.3%, and 1.3%, respectively, on April 13, 2018.

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