PPG Industries Inc. has been showcasing a strong market presence with its stock outperforming competitors on several trading days, albeit with some underperforming days as well. It attracted investment from Federated Hermes Inc. and Vest Financial LLC, acquiring a significant number of shares. However, it missed Q1 revenue estimates due to lower sales volume. The company plans to build a $225M OEM paint and coating facility in Tennessee and invest $300M in North America for manufacturing enhancement. PPG also launched STEELGUARD 951 Fire Protection Coating in the Americas and introduced Non-Stick & Low-Friction Coatings in Malaysia. It divested its Silicas Product Business to QEMETICA and is considering strategic alternatives for its architectural coatings business in the U.S. and Canada. PPG saw a lower-than-expected Q2 revenue, adjusted its profit forecast downwards, and experienced stock depreciation. Yet, their Q2 earnings topped the estimates. Recognition came their way with an Innovation Award for the LINQ Digital Ecosystem and their decision to expand Malaysian plant operations was well-received. Finally, the company had a positive week despite losing 12% for institutional investors over the past year.
Ppg Industries PPG News Analytics from Thu, 18 Jan 2024 08:00:00 GMT to Sat, 14 Sep 2024 13:22:41 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor -4
