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PPG Industries Inc. (PPG - Free Report) has closed the acquisition of Alpha Coating Technologies, LLC (Alpha).
Notably, the deal was announced on Feb 5, 2020. The financial terms of the deal have been kept under wraps.
Alpha Coating focuses on the development, manufacturing and sale of powder coatings for light industrial applications; heat-sensitive substrates and medium-density fiberboard; and toll manufactures powder coatings. Notably, the West Chicago, IL-based company, founded in 2000, has an employee strength of about 35 people.
PPG Industries expects Alpha Coating’s best-in-class service, technology and rapid turnaround color-matching capabilities to strategically complement it.
Shares of PPG Industries have dipped 5.7% in the past year compared with the industry’s decline of 35.9%.
On the fourth-quarter earnings call, the company expected continued organic growth in the Performance Coatings unit for 2020. For the Industrial Coatings unit, it expects a rebound in volume growth in the second half of 2020.
While PPG Industries is beginning to witness a modest recovery in industrial demand in China, it expects the soft general industrial demand to persist in the United States and Europe.
For 2020, it projects adjusted earnings per share growth of 4-9%, which excludes the impact of currency translation. First-quarter 2020 earnings per share from continuing operations are projected between $1.32 and $1.42.
Further, the company expects sales growth of 1-3% (on a constant-currencies basis) for 2020, including acquisitions.
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Daqo New Energy Corp. (DQ - Free Report) , NovaGold Resources Inc. (NG - Free Report) and Commercial Metals Company (CMC - Free Report) .
Daqo New Energy has a projected earnings growth rate of 353.7% for 2020. The company’s shares have rallied 73.9% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NovaGold has a projected earnings growth rate of 11.1% for 2020. It currently carries a Zacks Rank #2 (Buy). The company’s shares have surged 117.4% in a year.
Commercial Metals currently has a Zacks Rank #2 and a projected earnings growth rate of 21.6% for 2020. The company’s shares have rallied 9.4% in a year.
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PPG Industries (PPG) Completes Alpha Coating Acquisition
PPG Industries Inc. (PPG - Free Report) has closed the acquisition of Alpha Coating Technologies, LLC (Alpha).
Notably, the deal was announced on Feb 5, 2020. The financial terms of the deal have been kept under wraps.
Alpha Coating focuses on the development, manufacturing and sale of powder coatings for light industrial applications; heat-sensitive substrates and medium-density fiberboard; and toll manufactures powder coatings. Notably, the West Chicago, IL-based company, founded in 2000, has an employee strength of about 35 people.
PPG Industries expects Alpha Coating’s best-in-class service, technology and rapid turnaround color-matching capabilities to strategically complement it.
Shares of PPG Industries have dipped 5.7% in the past year compared with the industry’s decline of 35.9%.
On the fourth-quarter earnings call, the company expected continued organic growth in the Performance Coatings unit for 2020. For the Industrial Coatings unit, it expects a rebound in volume growth in the second half of 2020.
While PPG Industries is beginning to witness a modest recovery in industrial demand in China, it expects the soft general industrial demand to persist in the United States and Europe.
For 2020, it projects adjusted earnings per share growth of 4-9%, which excludes the impact of currency translation. First-quarter 2020 earnings per share from continuing operations are projected between $1.32 and $1.42.
Further, the company expects sales growth of 1-3% (on a constant-currencies basis) for 2020, including acquisitions.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Stocks to Consider
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Daqo New Energy Corp. (DQ - Free Report) , NovaGold Resources Inc. (NG - Free Report) and Commercial Metals Company (CMC - Free Report) .
Daqo New Energy has a projected earnings growth rate of 353.7% for 2020. The company’s shares have rallied 73.9% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NovaGold has a projected earnings growth rate of 11.1% for 2020. It currently carries a Zacks Rank #2 (Buy). The company’s shares have surged 117.4% in a year.
Commercial Metals currently has a Zacks Rank #2 and a projected earnings growth rate of 21.6% for 2020. The company’s shares have rallied 9.4% in a year.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>