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PPG Industries (PPG) Launches Jet Black Factory Package Topcoat

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PPG Industries, Inc. (PPG - Free Report) recently introduced the PPG Delfleet Essential ESSS979392 Jet Black factory package topcoat. It helps save time, enhance productivity and ensure consistent color matches for commercial repair facilities.

The new Jet Black color is an addition to four other colors currently in the PPG Defleet Essential factory package range—GM50 Olympic White, White, Black and Flat Black. Each pre-mixed topcoat features excellent vertical stability on rivets and sharp edges as well as can be used as a direct gloss or basecoat color.

PPG Industries stated that the new premixed Jet Black topcoat offers the convenience of not having to mix the paint and also ensures color consistency from job to job. It also enables its customers to deliver a rich, deep black appearance while streamlining their paint process, thereby increasing profitability, the company noted.

Shares of PPG Industries have rallied 68.2% in the past year compared with 52.9% rise of the industry.

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PPG Industries, in its last earnings call, stated that it expects overall global coatings demand to continue to be broad based in many of its end-use markets, including an eventual replenishment of many of its customers’ inventories.

The company also expects to achieve further sales growth and earnings accretion from its recent acquisitions. It expects sequential net sales to rise a low-teen percentage in the second quarter compared with first-quarter levels and in line with historical pre-pandemic sequential quarterly changes.

 

Zacks Rank & Other Key Picks

PPG Industries currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Olin Corporation (OLN - Free Report) and Cabot Corporation (CBT - Free Report) .

Nucor has a projected earnings growth rate of around 260% for the current year. The company’s shares have surged 131.7% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Olin has an expected earnings growth rate of around 506.7% for the current year. The company’s shares have skyrocketed 278.5% in the past year. It currently sports a Zacks Rank #1.

Cabot has an expected earnings growth rate of around 126% for the current fiscal. The company’s shares have surged 61.8% in the past year. It currently sports a Zacks Rank #1.

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