PPG Industries’ management changes in Aerospace
On August 23, 2017, PPG Industries (PPG) made a couple of management changes in its Aerospace segment. PPG named Mark Hood as the plant manager of its Sylmar, California, aerospace transparencies facility.
Hood will also look into PPG’s aerospace transparencies engineering and platform teams in an effort to achieve operational success. Hood has been associated with PPG since 1984, when he handled product support for engineering and operations management assignments.
PPG has also named Steve Knight as global market director of General Aviation Transparencies. Knight has been with PPG since 2004. He joined PPG as a sales representative in the Packaging Coatings Group.
How did PPG stock perform last week?
PPG Industries stock gained 1.6% last week (ended August 25, 2017) and closed the week at $103.72. Despite this gain, the stock still traded 3.6% below its 100-day moving average price of $107.64.
Analysts forecast that the stock will trade at $115.43 over the next 12 months, implying a return potential of 11.3% over the closing price of August 25, 2017. PPG has a relative strength index of 45, indicating that the stock is neither overbought nor oversold.
Investors can hold PPG industries indirectly by investing in the Materials Select Sector SPDR Fund (XLB), which had 4.3% of its portfolio in PPG Industries on August 25, 2017. XLB gained 1.3% for the week but still underperformed PPG.