PPG Industries, Inc. ( PPG Quick Quote PPG - Free Report) recently announced that its brand Johnstone’s has rolled out anti bacterial matt paint, which is equipped to restrict bacterial growth on walls. It has been specifically tested against MRSA and E. coli. It is effective in preventing bacterial growth on walls much to the delight of the customers. The latest addition adds to PPG’s range of functional, hygienic paints and coatings that incorporate several antibacterial and antimicrobial products. They minimize growth and spread of bacteria on painted surfaces. The risk of infection increases when bacteria are present on walls. Hence, the paint is formulated with technology that is effective in reducing bacteria living on a surface. It is a durable and tough range designed for every corner of the house, which not only protects walls, but also maintains a great finish.
The paint is offering a curation of 10 different shades to match customers’ preferences and can be purchased from independent stockists as well as Johnstone’s Paint Shop, a newly-launched e-commerce site to facilitate home delivery of paints purchased online.
PPG Industries is actively managing costs amid a challenging environment due to the coronavirus pandemic. The company is expecting restructuring savings of $30-$35 million for the last quarter of 2020. Moreover, the company expects corporate expenses of $55-$60 million and net interest expense of $28-$30 million for the fourth quarter. Sales volume for the quarter is also expected to be down low-to mid-single digit percentage, differing by region and business.
Zacks Rank and Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space are New Gold Inc. ( NGD Quick Quote NGD - Free Report) , Barrick Gold Corporation ( GOLD Quick Quote GOLD - Free Report) , and Pretium Resources Inc. ( PVG Quick Quote PVG - Free Report) . New Gold has a projected earnings growth rate of 100% for the current year. The company’s shares have rallied around 121% in a year. It currently sports a Zacks Rack #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Barrick Gold has an expected earnings growth rate of 115.7% for the current year. The company’s shares have surged around 42% in the past year. It currently carries a Zacks Rank #2. Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 15% in the past year. It currently carries a Zacks Rank #2. Biggest Tech Breakthrough in a Generation
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