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PPG Industries Board Approves $2.5B Share Repurchase Program
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PPG Industries’ (PPG - Free Report) board has authorized it to buyback outstanding common stock worth $2.5 billion. The authorization is effective immediately and is subjected to conditions to be determined by management under which the shares may be repurchased. This is in addition to the company’s current buyback authorization that had around $1.4 billion remaining as of Sep 30, 2017.
PPG Industries has an impressive record of returning cash to shareholders through dividends and share buybacks. The company has repurchased shares worth roughly $415 million so far this year.
PPG Industries’ shares have moved up 3.6% in the past six months, underperforming the industry’s 11.8% growth.
PPG Industries expects continued moderate global economic growth. Post the mayhem caused by the recent natural disasters, the company doesn’t anticipate any further decline in the level of raw material cost inflation for the balance of this year.
The company also sees an additional selling price increase. Along with addressing the inflationary environment, it remains on track with its restructuring program which is expected to deliver full-year savings of more than $45 million.
PPG Industries expects the recent natural disasters to unfavorably impact fourth-quarter earnings by up to 5 cents per share.
PPG Industries is taking steps for growing organically as well as cutting costs. The company also remains committed to deploy cash on acquisitions and share repurchases.
However, PPG Industries faces macroeconomic challenges. Some of its end-markets including marine still remain sluggish. It is also exposed to raw materials cost pressure. Moreover, lingering impacts of natural disasters may continue to affect sales volume and margins in the fourth quarter.
Kronos Worldwide has expected long-term earnings growth of 5%. Its shares have gained 112.7% year to date.
Koppers has expected long-term earnings growth of 18%. Shares of the company have rallied 21.1% year to date.
Westlake Chemical has expected long-term earnings growth of 10.6%. Its shares have soared 79.8% year to date.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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PPG Industries Board Approves $2.5B Share Repurchase Program
PPG Industries’ (PPG - Free Report) board has authorized it to buyback outstanding common stock worth $2.5 billion. The authorization is effective immediately and is subjected to conditions to be determined by management under which the shares may be repurchased. This is in addition to the company’s current buyback authorization that had around $1.4 billion remaining as of Sep 30, 2017.
PPG Industries has an impressive record of returning cash to shareholders through dividends and share buybacks. The company has repurchased shares worth roughly $415 million so far this year.
PPG Industries’ shares have moved up 3.6% in the past six months, underperforming the industry’s 11.8% growth.
PPG Industries expects continued moderate global economic growth. Post the mayhem caused by the recent natural disasters, the company doesn’t anticipate any further decline in the level of raw material cost inflation for the balance of this year.
The company also sees an additional selling price increase. Along with addressing the inflationary environment, it remains on track with its restructuring program which is expected to deliver full-year savings of more than $45 million.
PPG Industries expects the recent natural disasters to unfavorably impact fourth-quarter earnings by up to 5 cents per share.
PPG Industries is taking steps for growing organically as well as cutting costs. The company also remains committed to deploy cash on acquisitions and share repurchases.
However, PPG Industries faces macroeconomic challenges. Some of its end-markets including marine still remain sluggish. It is also exposed to raw materials cost pressure. Moreover, lingering impacts of natural disasters may continue to affect sales volume and margins in the fourth quarter.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus | PPG Industries, Inc. Quote
Zacks Rank & Stocks to Consider
PPG Industries currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the basic materials space are Kronos Worldwide Inc. (KRO - Free Report) , Koppers Holding Inc. (KOP - Free Report) and Westlake Chemical Corporation (WLK - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kronos Worldwide has expected long-term earnings growth of 5%. Its shares have gained 112.7% year to date.
Koppers has expected long-term earnings growth of 18%. Shares of the company have rallied 21.1% year to date.
Westlake Chemical has expected long-term earnings growth of 10.6%. Its shares have soared 79.8% year to date.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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