We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPG Industries (PPG) Invests in China Plant to Boost Capacity
Read MoreHide Full Article
PPG Industries, Inc. (PPG - Free Report) recently announced the completion of a $13-million investment in its Jiading paints and coatings facility in China. This includes eight new production lines and an expanded technology center that is geared to bolster the company’s research and development (R&D) capabilities.
These new production lines will produce coatings like premium-quality industrial powder coatings and wheel hub coatings, to name a few, and are expected to increase the plant’s capacity by more than 8,000 metric tons per year.
The sprawling Powder Coatings Technology Center, with an area of more than 2,000 square meters and a laboratory equipped with state-of-the-art apparatus, will support intensive R&D and provide technical assistance to the pan-Asia-Pacific customer base. The spectrum for development activities will include coatings for automotive, construction machinery, industrial applications, 5G and other consumer electronics.
PPG Industries is confident that this investment, made with a futuristic vision of strengthening its R&D base in China, will exceed the sustainability goals of both the company and its consumers by meeting the growing demand for such viable products.
Shares of PPG Industries have surged 90% in a year, outperforming the industry’s growth of 72.1%. Its earnings growth rate for the current year is pegged at 41.7%.
In the first quarter of 2021, PPG recorded adjusted earnings of $1.88 per share, rising from $1.31 logged in the year-ago quarter and topping the Zacks Consensus Estimate of $1.58. Net sales rose roughly 15% year over year to $3,881 million, exceeding the Zacks Consensus Estimate of $3,691.6 million.
The company expects growth in sales and earnings, riding on the back of economic revival and recent acquisitions, to continue further and also sees structural cost savings from its restructuring actions. It expects its overall global demand to continue to be broad-based in many of its end-use markets. Higher domestic flight activities in various parts of the world are also expected to support the gradual recovery in the aftermarket aerospace coatings demand in the second half of 2021.
Cabot has a projected earnings growth rate of 125.9% for the current year. The company’s shares have soared around 83.8% in a year.
Dow has a projected earnings growth rate of 261.5% for the current year. The company’s shares have jumped roughly 92.2% in a year.
Olin has a projected earnings growth rate of 473.3% for the current year. The company’s shares have seen a huge surge of 297.4% in a year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
PPG Industries (PPG) Invests in China Plant to Boost Capacity
PPG Industries, Inc. (PPG - Free Report) recently announced the completion of a $13-million investment in its Jiading paints and coatings facility in China. This includes eight new production lines and an expanded technology center that is geared to bolster the company’s research and development (R&D) capabilities.
These new production lines will produce coatings like premium-quality industrial powder coatings and wheel hub coatings, to name a few, and are expected to increase the plant’s capacity by more than 8,000 metric tons per year.
The sprawling Powder Coatings Technology Center, with an area of more than 2,000 square meters and a laboratory equipped with state-of-the-art apparatus, will support intensive R&D and provide technical assistance to the pan-Asia-Pacific customer base. The spectrum for development activities will include coatings for automotive, construction machinery, industrial applications, 5G and other consumer electronics.
PPG Industries is confident that this investment, made with a futuristic vision of strengthening its R&D base in China, will exceed the sustainability goals of both the company and its consumers by meeting the growing demand for such viable products.
Shares of PPG Industries have surged 90% in a year, outperforming the industry’s growth of 72.1%. Its earnings growth rate for the current year is pegged at 41.7%.
In the first quarter of 2021, PPG recorded adjusted earnings of $1.88 per share, rising from $1.31 logged in the year-ago quarter and topping the Zacks Consensus Estimate of $1.58. Net sales rose roughly 15% year over year to $3,881 million, exceeding the Zacks Consensus Estimate of $3,691.6 million.
The company expects growth in sales and earnings, riding on the back of economic revival and recent acquisitions, to continue further and also sees structural cost savings from its restructuring actions. It expects its overall global demand to continue to be broad-based in many of its end-use markets. Higher domestic flight activities in various parts of the world are also expected to support the gradual recovery in the aftermarket aerospace coatings demand in the second half of 2021.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Other Stocks to Consider
Currently, PPG Industries holds a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space are Cabot Corporation (CBT - Free Report) , Dow Inc. (DOW - Free Report) and Olin Corporation (OLN - Free Report) , each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot has a projected earnings growth rate of 125.9% for the current year. The company’s shares have soared around 83.8% in a year.
Dow has a projected earnings growth rate of 261.5% for the current year. The company’s shares have jumped roughly 92.2% in a year.
Olin has a projected earnings growth rate of 473.3% for the current year. The company’s shares have seen a huge surge of 297.4% in a year.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>