Ashland Will Increase a Few Product Prices in North America

Ashland increases product prices

On September 21, Ashland (ASH) announced that it will increase the prices for its PureRad products. The prices will increase 6%. The price increase is expected to be effective on October 5. The price increase will likely impact North America.

Ashland Will Increase a Few Product Prices in North America

Ashland also increased its maleic anhydride prices. The increase will be effective on October 1 or as the contract allows. Ashland has increased the maleic anhydride prices by $0.04 per pound. The price increase will likely impact North America.

Higher prices could have a positive impact on Ashland’s revenues. The increase will be visible in the company’s fourth-quarter earnings. Ashland cited increased feedstock, raw materials, and freight prices as the main reason for the price hikes.

Stock price update

Ashland remained positive with a gain of 1.3% and closed at $85.67 for the week ending September 21. The gain in the stock prices helped the stock prices hover around an all-time high. As a result, the stock is trading 6.1% above the 100-day moving average price of $80.78. Ashland’s 100-day moving average price is on an upward trend, which indicates bullishness in the stock. On a year-to-date basis, Ashland stock has gained ~17.2%. Ashland’s 14-day relative strength index was at 60, which suggests that the stock isn’t overbought or oversold.

Ashland outperformed the Invesco Russell MidCap Pure Value ETF (PXMV), which gained 0.9% for the week. PXMV invests 1.4% of its portfolio in Ashland. PXMV also provides exposure to Dish Network (DISH), Newmont Mining (NEM), and CNA Financial (CNA) with weights of 1.4%, 0.9%, and 1.1%, respectively, as of September 21.