PPG Industries, Inc.
PPG
announced the launch of PPG Envirocron HeatSense powder coating for heat-sensitive wood and wood-composite applications, like medium density fiberboard (MDF), hardwood, plywood and similar products.
The latest addition is engineered to create design freedom and offer multiple advantages in the office furniture space, such as sealed edges that improve moisture resistance and increase the life of products.
The Envirocron HeatSense coating is designed to complement the newest developments in low-temperature cure technology. It is prepared to overcome the restrictions that have earlier prevented powder coatings from being a feasible option for the wood-finish market. It encapsulates the substrate with a smooth, durable finish, providing a moisture barrier and enabling design freedom, unlike laminated coatings.
Enabling freedom of design, when applied and cured properly, the coating facilitates wood manufacturers to finish their products in a range of colors, textures, special effects and antimicrobial protected coating options.
PPG is executing an aggressive cost cutting and restructuring strategy, which will likely support margins.
The company expects to achieve restructuring savings of $30-$35 million in the fourth quarter of 2020. It also anticipates total sales volume for the fourth quarter to be down a low-to-mid-single digit percentage, differing by region and business.
Moreover, it expects corporate expenses of $55-$60 million and net interest expenses of $28-$30 million for the fourth quarter.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart
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PPG Industries, Inc. Quote
Zacks Rank and Key Picks
PPG Industries currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks worth considering in the basic materials space are
Bunge Limited
BG
,
Clearwater Paper Corporation
CLW
, and
Pretium Resources Inc.
PVG
.
Bunge has a projected earnings growth rate of 43% for the current year. The company’s shares have gained around 11% in a year. It currently sports a Zacks Rack #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
Clearwater Paper has an expected earnings growth rate of 1,960.9% for the current year. The company’s shares have surged around 70% in the past year. It currently carries a Zacks Rank #2.
Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 11% in the past year. It currently carries a Zacks Rank #2.
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