Ashland: Good Chemistry, Excellent Stock
NYU Stern Investment Management Research
NYU Stern Investment Management Research
Tue, Jul. 26, 5:19 PM
Mon, Jul. 25, 5:35 PM
- AAPL, AIZ, AKAM, AKR, ALDR, AMP, APC, ARI, ASH, AXS, BCR, BJRI, BLDP, BVN, BWLD, BXMT, BXP, CAVM, CB, CEB, CHRW, CINF, CNO, CSV, CTXS, CUZ, CVA, DDR, DMRC, DOX, EQR, ETH, EW, FSP, FTK, GHL, GLF, GMED, HUBG, HURN, ILMN, IRBT, JBT, JNPR, KN, LLTC, LNDC, MDR, MTCH, MTSI, NANO, NCR, NUVA, OIS, PEI, PNRA, PSB, QTS, RGC, RHI, RNR, RRC, RSYS, SGEN, SKT, TGB, TRMK, TRU, TSS, TWTR, UDR, UHS, UIS, ULTI, UMBF, USNA, VR, WES, WGP, WNC, X, ZION, ZIXI
Tue, May 31, 5:24 PM
- Ashland (NYSE:ASH) says its Valvoline subsidiary has filed for an IPO of up to 20% of its common stock, in which it expects to raise $100M.
- Valvoline says it generated ~$2B in sales, $422M in adjusted EBITDA and $196M in net income during FY 2015.
- Valvoline expects shares will trade on the NYSE under the symbol VVV.
- Meanwhile, ASH says its proposed reorganization, subject to shareholders’ approval, would move the legal headquarters of its holding company to Delaware from Kentucky.
Tue, Apr. 26, 5:18 PM
Mon, Apr. 25, 5:35 PM
- AAPL, AFL, AIZ, AKAM, ARAY, ARI, ASH, AXS, BEAT, BLDP, BRX, BWLD, BXMT, BXP, BYD, CHRW, CINF, CLMS, CMG, COF, CREE, CRUS, CUDA, CVA, EBAY, EEFT, EQR, EW, EXAC, FE, FOE, FSP, FTI, FTNT, HAWK, HIW, HLS, HUBG, IRBT, ISIL, JBSS, JBT, KLAC, MKTO, MRCY, MTSI, MWA, NANO, NCR, NUVA, O, PEI, PNRA, PSA, PSB, RHI, RMD, RNR, SKT, SLCA, T, TEX, TMK, TSS, TWTR, TX, ULTI, VNTV, WNC, WRB, X, ZIXI
Thu, Apr. 14, 10:40 AM
- Ashland (ASH -0.2%) says plans to spin off its Valvoline business are proceeding as planned, with an IPO of up to 20% of its common stock scheduled for Q4.
- ASH is separating into two independent, publicly traded companies: the new Ashland, composed of Ashland Specialty Ingredients and Ashland Performance Materials, and Valvoline, composed of Ashland's Valvoline business segment.
- ASH says it expects each company to have mid-to-high BB ratings profiles with an optimal level of financial flexibility for each to pursue long-term strategies.
- Now read Ashland: Does the pending spinoff create shareholder value?
Mon, Jan. 25, 5:46 PM
- Ashland (NYSE:ASH): FQ1 EPS of $1.41 beats by $0.02.
- Revenue of $1.16B (-16.5% Y/Y) misses by $60M.
Sun, Jan. 24, 5:35 PM
Wed, Jan. 20, 8:58 AM
- Ashland (NYSE:ASH) should halt plans to spin off its Valvoline business and instead seek a buyer for its specialty chemicals unit, says major ASH shareholder Elmrox Investment Group.
- Elmrox believes ASH should instead take advantage of the active market for chemical deals, and that the specialty chemicals unit could command a sale price of at least $9B, pointing to the planned Dow Chemical-DuPont merger and other recent deals, with Valvoline potentially worth more than $7B on its own.
- ASH says it is standing by its current plan to separate Valvoline, which makes motor oil and automotive chemicals, from its businesses that make chemicals and compounds that go into everything from sunscreen and pharmaceuticals to the fluids used in shale drilling.
Nov. 3, 2015, 5:18 PM
- Ashland (NYSE:ASH): Q3 EPS of $1.62 beats by $0.12.
- Revenue of $1.3B (-15.6% Y/Y) in-line.
Nov. 2, 2015, 5:35 PM
- ACHC, AFG, AIV, AMSG, ASH, ATVI, AWR, BIO, BKH, CBPO, CBS, CERN, CHEF, CHUY, CIM, CKP, CSU, CSV, CVC, DAC, DENN, DHT, DK, DKL, DVA, DVN, ECYT, ENPH, ENSG, EPIQ, ETSY, EVRI, FANG, FARO, FIVN, FLTX, FMI, FOGO, GHDX, GMED, GRPN, HCI, HL, HLF, HRZN, IAG, IPHS, IRWD, ITRI, IVR, JCOM, KEG, LLNW, MPO, MTZ, MXL, MYGN, NFX, NYMT, OAS, OCLR, OESX, OFIX, OKE, OKS, ORA, PAA, PAGP, PAYC, PBPB, PKD, QUAD, REGI, RIGL, RLOC, RP, RPAI, RXN, SLW, SSNI, SUPN, TDW, TMH, TSLA, TSRA, TX, UNTD, USNA, VNDA, WBMD, WR, WTR, X, XEC, XOXO, XXIA, Y, ZAGG, ZEN, ZNGA
Sep. 28, 2015, 12:58 PM
- Huntsman (HUN -23.8%) plunges by nearly 25% following an earnings warning from the company after Friday's market close that lower titanium dioxide pricing, currency headwinds, soft demand in Asia, lower oil prices and a delay in benefits from lower raw material prices will negatively impact Q3 earnings.
- HUN says it also sees lower margins for methyl tertiary butyl ether due to lower oil prices and forecast continued lower MDI urethane component product margins in the Asia Pacific region.
- CEO Peter Huntsman says he is "optimistic about the future" despite the short-term headwinds, and that the company anticipates Q4 adjusted EBITDA similar to Q3 at ~$300M, similar to last year's level; HUN also remains committed to a separation of the pigments and additives business by year-end 2016 or sooner.
- Other chemical companies also are lower: DOW -2.7%, DD -1.7%, EMN -4%, ASH -4.3%, CC -7.6%, KRO -1%, SHLM -3.1%, LYB -4.1%, SSL -4%, OTCQX:BASFY -1.3%.
Sep. 22, 2015, 8:02 AM
- Ashland (NYSE:ASH) +6% premarket after announcing plans to split into two independent, publicly traded companies, one focused on specialty chemicals and the other on high-performance lubricants.
- ASH says the move represents the completion of its transformation from an oil refiner to a chemicals company.
- The new Ashland will provide specialty chemical solutions to customers in a wide range of consumer and industrial markets, which generated $3.6B in sales for the 12 months ending June 30; the new company, Valvoline, will focus on lubricants, which generated sales of $2B in the year ending June 30.
- Current CEO William Wulfsohn will become CEO of the new Ashland, while Sam Mitchell, the current president of the Valvoline business, will serve as CEO of the spun-off company.
Jul. 29, 2015, 5:38 PM
- Ashland (NYSE:ASH): FQ3 EPS of $1.91 beats by $0.15.
- Revenue of $1.37B (-14.4% Y/Y) misses by $50M.
Jul. 28, 2015, 5:35 PM
- ACGL, AEGN, AEL, AEM, AFFX, ALGT, ANIK, AR, ARII, ARRS, ASGN, ASH, ATW, BANC, BAX, BKCC, BLKB, BXP, CAVM, CBL, CEMP, CGI, CHDN, CHMT, CLD, CMO, CMPR, CNO, CNW, CROX, CSGP, CW, CWT, CXO, DDR, DOX, DRE, DYAX, EHTH, ELY, EQIX, EQY, ESRT, ESV, EXR, FARO, FB, FBP, FICO, FISV, FMI, FNF, FOE, FORM, FORR, HLS, HOLX, HOS, HY, IPCM, ISIL, IXYS, KEG, KEX, KGC, KRA, KRG, KS, LNC, LOCK, LPSN, LRCX, MAA, MANT, MAR, MC, MCK, MDAS, MEOH, MET, MMLP, MTGE, MTW, MUR, NBIX, NE, NOW, NSIT, NTRI, NXPI, O, OGS, OI, ORLY, OTEX, PDM, PEGA, PEIX, PPC, PSA, PTC, PVA, QGEN, QUIK, RKUS, ROG, RRTS, SBAC, SCI, SCTY, SFLY, SGMO, SKX, SPRT, SSNC, SSS, STAA, SU, TAL, TER, THG, THRM, THRX, TILE, TTEK, UNM, VAR, VGR, VNDA, VRTX, WDC, WES, WFM, WGP, WLL, WMB, WMGI, WSTL, WTS, WYNN
May 12, 2015, 12:59 PM
- Ashland (ASH -4.3%) slides as Jana Partners discloses that it no longer has a stake in the specialty chemicals company, after the activist hedge fund previously held an 8.4% stake.
- Jana had revealed a significant stake in April 2013 and pushed for the company to do more to boost value for shareholders; shares have since climbed by about two-thirds, and the fund successfully pushed ASH to sell its water technologies business last summer for $1.35B.
Ashland, Inc. provides the specialty chemicals, technologies and insights. Its chemistry is used in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water... More
Sector: Basic Materials
Industry: Chemicals - Major Diversified
Country: United States
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