PPG Industries Inc. (PPG - Free Report) announced that it started using titanium dioxide (TiO2) pigment from the new chloride production line of Lomon Billions.
TiO2 purchased from Lomon Billions’ second chloride-process production line is expected to be used to manufacture coatings and paints at many global production facilities of PPG Industries. The terms of the purchase were not revealed.
Lomon Billions is a leading producer of TiO2, a key raw material used by PPG Industries.Its second chloride-process TiO2 production line started production early this year.
Shares of PPG Industries have gained 16.2% year to date against the industry’s 26.1% decline.
It anticipates soft global economic growth for the fourth quarter. It expects the same to impact several end-use markets.
For 2019, the company anticipates adjusted earnings per share (EPS) of $6.17-$6.27. This takes into consideration year-over-year growth projection at constant currencies of 15% at the mid-point for the fourth quarter. Moreover, the latest adjusted EPS growth guidance lies at the low-to-mid end of earlier announced 7-10%, excluding the impact of currency translation.
PPG Industries anticipates low-single-digit sales growth for the year, which excludes the impact of currency translation.
PPG Industries, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Impala Platinum Holdings Ltd. (IMPUY - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and Franco-Nevada Corporation (FNV - Free Report) and Agnico Eagle Mines Limited (AEM - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Impala Platinum has a projected earnings growth rate of 255.2% for 2019. The company’s shares have rallied 224.5% in a year.
Franco-Nevada has a projected earnings growth rate of 46.2% for 2019. The company’s shares have rallied 42.7% in a year.
Agnico Eagle has an estimated earnings growth rate of 168.6% for the current year. Its shares have moved up 67.5% in the past year.
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