PPG Industries received a few awards
On November 20, PPG Industries (PPG) announced that it received Uni-Select’s 2018 Diamond Award. The award is given to suppliers who offer high-quality and sustainable products and provide efficient service. Uni-Select is one of PPG’s prestigious clients. PPG has been supplying automotive refinishing products to Uni-Select. The award ceremony was held in Las Vegas, Nevada.
Norm Angrove, PPG’s director of automotive refinish, Canada, said, “We are proud to be recognized by Uni-Select. The Diamond Award demonstrates our dedication to providing the best products, service, and support to our customers. Good relationships are important in the coatings business, and we strive to do whatever it takes to be a good partner. When our customers succeed, we do as well.”
PPG also received the Corporate Social Responsibility Award for 2018 from the British Coatings Federation. PPG received the award for the second consecutive year. The award recognizes outstanding services and charity to support communities.
Stock price updates
PPG stock continued to trade sideways and remained flat with a marginal gain of 0.1% for the week. The stock closed at $107.29 on November 23. PPG stock continued to trade on par with its 100-day moving average price of $107.29.
On a year-to-date basis, PPG stock has fallen 9.2%. Sherwin-Williams (SHW) and RPM International (RPM) have gained 1.2% and 20.5%, respectively, while Axalta (AXTA) has fallen 23.6%. Analysts expect PPG’s target price to be at $111.96, which implies a potential return of 4.4% over its closing price on November 23.
Investors could hold PPG indirectly by investing in the Guggenheim S&P 500 Equal Weight Materials ETF (RTM). RTM declined 3.2% during the week. RTM invests 4.2% of its portfolio in PPG.