PPG Industries, Inc. (PPG - Free Report) will showcase its architectural metal coatings at Metalcon 2018, to be held at the Charlotte Convention Center in North Carolina, from Oct 10 to 12.
The company will display PPG Duranar MXL and PPG Coraflon MXL coatings at the event. PPG Industries has engineered these polychromatic formulations with the aim to add heightened dimensions of brilliance and luster to metal-clad buildings.
In response to increased demand of architects for a wide selection of metallic and colorful coatings, Duranar MXL and Coraflon MXL are infused with best-in-class special effects. Notably, the special effects result in a three-dimensional aesthetic that shifts subtly in color and offers a highly reflective sparkle in direct sunlight.
PPG Industries will also showcase PPG Durabrite and PPG Duraform coatings at the event. PPG Durabrite is specially formulated to extend and enrich the beauty of architectural metals by protecting them with a resilient, transparent clearcoat.
PPG Duraform features a unique finish that increases abrasion resistance, while adding a sparkle effect that enhances the texture of the surrounding materials. Additionally, PPG Industries will display its full range of traditional Duranar, Duranar Ultra-cool and Duranar Vari-cool coatings.
In a year’s time, PPG Industries has outperformed the industry it belongs to. The stock has lost around 1.8% compared with the industry’s decline of 3.8%.
PPG Industries, during its second-quarter call, said that it does not expect any respite from inflationary cost pressure in the third quarter. The company expects to continue its earnings-accretive cash deployment in the second half of the year. It is committed toward spending $2.4 billion of cash on acquisitions and share repurchases in 2018. The company also initiated a restructuring program and expects to record annualized savings of roughly $85 million, once it is fully implemented.
During the second quarter, PPG Industries’ Industrial Coatings segment sales and total sales volumes improved year over year. Acquisition-related sales contributed to the growth. Notably, Performance coatings segment sales increased year over year on the back of favorable currency translation.
PPG Industries, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
PPG Industries is a Zacks Rank #4 (Sell) stock.
Some better-ranked companies in the basic materials space are ArcelorMittal (MT - Free Report) , CF Industries Holdings, Inc. (CF - Free Report) and Steel Dynamics, Inc. (STLD - Free Report) .
ArcelorMittal has an expected long-term earnings growth rate of 4.8% and a Zacks Rank #1 (Strong Buy). The company’s shares have gained 16.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
CF Industries has an expected long-term earnings growth rate of 6% and a Zacks Rank #2 (Buy). The company’s shares have rallied 59% in the past year.
Steel Dynamics has an expected long-term earnings growth rate of 12% and a Zacks Rank #2. Its shares have risen 29.1% in a year’s time.
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