PPG Industries Inc. PPG announced the debut of PPG Aquacron 270 Series waterborne acrylic sanding primer. It is a single-component, fast-drying primer for interior wood, wood-related and plastic products.
Per the company, the primer is designed for conventional, HVLP (high-volume, low-pressure) and commercial airless spray systems. It offers good hardness and adhesion as well as excellent sanding properties in a convenient, ready-to-spray product. The primer also has low volatile organic compound content due to its water-based formulation. It combines exceptional performance with fast drying.
The company stated that it dries to the touch in 10-20 minutes. Also, it can be recoated or finished with a topcoat within one to two hours. The product enables manufacturers to accelerate their production processes as they can use ordinary tap water to reduce the viscosity of the primer.
The new product is ideal for interior building and decorative products. This includes windows, doors, cabinetry, shutters, signage, furniture and displays.
Shares of PPG Industries have lost 2.3% in the past year compared with the 45.6% decline of the industry.
The company expects industry demand for several of its businesses to remain sluggish in the third quarter. It is focused on recovering operating margins and expects the momentum to continue as it works with customers and suppliers to offset the impact of raw material cost inflation.
PPG Industries expects third-quarter earnings per share (EPS) in the range of $1.57-$1.67. It also reaffirmed 2019 adjusted EPS growth in the range of 7-10% and envisions sales growth of a low-single-digit percentage for the full year, both excluding currency translation impacts.
The company continues to manage costs amid a challenging business environment. It generated nearly $20 million of cost savings in the second quarter. PPG Industries is also committed in its cash deployment to boost shareholders’ value in the long term.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kinross Gold Corp. KGC, Alamos Gold Inc AGI and Arconic Inc ARNC, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross has an expected earnings growth rate of 150% for 2019. The company’s shares have surged 73.4% in the past year.
Alamos Gold has projected earnings growth rate of 320% for the current year. The company’s shares have rallied 61.4% in a year’s time.
Arconic has an estimated earnings growth rate of 50% for the current year. Its shares have moved up 15% in the past year.
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