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PPG Industries’ Stock Price Is Still Under Pressure Post-3Q16

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Nov. 20 2020, Updated 4:15 p.m. ET

PPG Industries stock price

PPG Industries’ (PPG) stock performance from November 1, 2016, to December 29, 2016, has been very mild, with a return of 1.6%. PPG underperformed the broader market (SPY) and its peers Sherwin-Williams (SHW), RPM International (RPM), and Valspar (VAL), which returned 5.6%, 10.4%, 13.6%, and 3.9%, respectively.

PPG’s stock price has remained range-bound ever since it announced its 3Q16 results, which didn’t meet Wall Street’s expectations. For a complete analysis of PPG’s 3Q16 results, read Market Realist’s What Kind of Picture Did PPG Industries Paint in 3Q16?

After a disappointing 3Q16, PPG has been discarding its non-core businesses. It’s announced a new restructuring plan with an aim to save ~$125 million per year. PPG’s management has stated that 4Q16 will be marginally better than 3Q16, and investors appear to be cautious.

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Moving averages and relative strength index

The fall in PPG’s stock price has breached the company’s 100-day moving average on a downward trend. PPG was trading 3.5% below its 100-day moving average of $98.72 on December 29, 2016. PPG’s 52-week low is $88.37, and its 52-week high is $117. On a year-to-date (or YTD) basis, the stock had fallen 3.6% as of December 29, 2016.

PPG’s 14-day RSI (relative strength index) of 46 indicates that the stock is neither overbought nor oversold. An RSI score of above 70 means that a stock has moved temporarily into an overbought position, and an RSI score of below 30 indicates that a stock has moved temporarily into an oversold position.

Continue reading for a closer look at PPG’s latest dividend announcement, it’s most recent valuations, and analysts’ latest recommendations on its stock.

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