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.
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.