PPG Industries Rolls Out Economical Rust-Inhibitive Primer
PPG Industries PPG unveiled a new water-based primer — PPG Aquacron 834 industrial shop primer. The product is touted to be an ideal platform for manufacturers or custom coaters who need an economical rust-inhibitive shop primer for steel applications.
PPG Aquacron 834 contains volatile organic compounds of only 2.8 pounds per gallon. The product offers robust protection in corrosive environments while meeting stringent environmental regulations. Also, it provides excellent flow and leveling characteristics to create a smooth finish for steel fabrication, automotive racking, waste containers, industrial machinery, material handling equipment and other miscellaneous metal fabrication applications.
The product comes with a quick-dry formula that can increase shop production and provide manufacturers and custom coaters with a cost-effective option that uses water for reduction and clean up.
PPG Aquacron 834 primer can be used along with PPG Aquacron 488, PPG Aquacron 880 and PPG Aquacron 890 Series topcoats.
PPG Industries’ shares have moved up 10.2% in the past six months, underperforming the industry’s 16.2% growth.
PPG Industries expects continued moderate global economic growth. Post the mayhem caused by the recent natural disasters, the company doesn’t anticipate any further decline in the level of raw material cost inflation for the balance of this year.
The company also sees an additional selling price increase. Along with addressing the inflationary environment, it remains on track with its restructuring program which is expected to deliver full-year savings of more than $45 million.
PPG Industries expects the recent natural disasters to unfavorably impact fourth-quarter earnings by up to 5 cents per share.
PPG Industries is taking steps for growing organically as well as cutting costs. The company also remains committed to deploy cash on acquisitions and share repurchases.
However, PPG Industries faces macroeconomic challenges. Some of its end-markets including marine still remain sluggish. It is also exposed to raw materials cost pressure. Moreover, lingering impacts of natural disasters may continue to affect sales volume and margins in the fourth quarter.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus | 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 Ingevity Corporation NGVT, Koppers Holding Inc. KOP and Westlake Chemical Corporation WLK, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ingevity has expected long-term earnings growth of 12%. Its shares have gained 42.2% year to date.
Koppers Holding has expected long-term earnings growth of 18%. Its shares have rallied 23.7% year to date.
Westlake Chemical has expected long-term earnings growth of 10.6%. Its shares have moved up 70.3% year to date.
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