PPG Industries Launched A New Product: TIMELESS
PPG Industries launched a new product
On August 16, 2017, PPG Industries (PPG) launched TIMELESS paints and primer in one. The product can be used for interior and exterior purposes. The product is available in all Home Depot (HD) locations throughout the US. Customers can also get the product through Home Depot’s website. The new product is primarily targeted to do-it-yourself customers. TIMELESS uses automotive grade ultraviolet and gloss retention technology used by automotive manufacturers. The product gives do-it-yourself customers superior quality.
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It’s important to know how much the product can contribute to PPG’s sales. Sara Braun, PPG’s marketing director, said “PPG coatings are not only trusted on airplanes, cars, consumer electronics, submarines and space shuttles in the harshest conditions, they also have been trusted by professional painters for more than 130 years. PPG products are trusted by professionals to complete jobs when their reputations are on the line. With PPG Timeless paint, DIYers can feel confident that they can get the same professional-quality results quickly and easily.”
PPG’s stock performance
PPG Industries stock rose 1.3% for the week ending August 18 and closed at $102.08. It outperformed the Materials Select Sector SPDR Fund (XLB), which returned 0.4% during the same period. Although PPG rose 1.3%, the stock is trading 5.2% lower than the 100-day moving average price of $107.72, which indicates weakness in the stock. On a year-to-date basis, the stock has returned 7.70%. Its peers Sherwin Williams (SHW), Axalta (AXTA), and RPM International (RPM) have returned 22.40%, 7.4%, and -10.0%, respectively, for the same period. PPG’s relative strength index of 36 indicates that the stock isn’t overbought or oversold.