Ashland Wraps Up Divestment of Avoca Business to Mane

Group 1 - Ashland Inc. has completed the divestment of its Avoca business to Mane, effective March 14, 2025, with undisclosed terms [1] - The Avoca business specializes in sclareolide, a fragrance fixative, and offers contract manufacturing from facilities in North Carolina and Wisconsin, being the last remaining business from the Pharmachem acquisition [2] - The divestment aligns with Ashland's strategy to optimize its portfolio, focus on core operations, and improve margins, as the Avoca business faced challenges due to customer shifts towards lower-cost bio-based materials [3] Group 2 - For fiscal 2025, Ashland expects sales to be between $1.90 billion and$2.05 billion, with adjusted EBITDA projected in the range of $430 million to$470 million [4] - Ashland currently holds a Zacks Rank 3 (Hold), with better-ranked stocks in the Basic Materials sector including Ingevity Corporation, Axalta Coating Systems, and Carpenter Technology Corporation [5] - Ingevity's current-year earnings estimate is $4.45 per share, with an average earnings surprise of 202.9$2.51 per share, surpassing estimates in all trailing four quarters with an average surprise of 16.28% [6] - Carpenter Technology's current fiscal-year earnings estimate is $6.95 per share, beating estimates in each of the last four quarters, with shares soaring 168.6% in the past year [7]