PPG Industries, Inc. (PPG - Free Report) has inaugurated a new 450,000 square-foot facility in Flower Mound, TX. It the largest distribution center in the company’s U.S. and Canadian network for architectural paints and coatings.
This facility highlights the company’s dedication to expand business and strengthen its overall distribution strategy. It is located in the Lakeside Ranch Business Park in the Dallas-Fort Worth metropolitan area. The distribution facility caters more than 1000 PPG Paints stores, national and independent retailers in the southwest U.S. region. It is capable of storing more than 4 million gallons (15 million liters) of more than 4,500 unique paint and coatings products.
The company owns and operates nearly 40 PPG Paints stores in the Dallas-Fort Worth region. It also sells products through local independent retailers in the area. The company’s architectural coatings business employs roughly 900 people in Texas.
Shares of PPG Industries have gained 5.6% in the past year, against the 31.5% decline of the industry.
The company’s adjusted earnings per share (EPS) in the first quarter came in at $1.38, down around 2.8% from $1.42 in the prior-year quarter. However, the reported figure beat the Zacks Consensus Estimate of $1.21.
PPG Industries expects second-quarter EPS in the range of $1.76-$1.86, which includes unfavorable currency-translation impacts similar to the first quarter.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Materion Corporation (MTRN - Free Report) , Fortescue Metals Group Ltd. (FSUGY - Free Report) and AngloGold Ashanti Limited (AU - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Materion has an expected earnings growth rate of 23.1% for 2019. The company’s shares have gained 18.1% in the past year.
Fortescue Metals has an impressive projected earnings growth rate of 101.5% for the current year. The company’s shares have surged 73.5% in a year’s time.
AngloGold has an estimated earnings growth rate of 86.8% for the current year. Its shares have rallied 40% in the past year.
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