PPG Industries’ new launch
On January 9, PPG Industries (PPG) announced the introduction of SPECTRACRON 385 POLY-IOTHANE—a solid primer. The new primer has outstanding durability in severe and corrosive environments. The primer has good chemical resistance, excellent flexibility, and direct and indirect impact resistance. The primer has maximum volatile organic compound emissions of 3.5 pounds per gallon. The new primer is environmentally friendly.
The new primer is targeted at industries like industrial equipment, building materials, telecommunications, and other heavy-duty equipment applications. PPG Industries’ new launches are expected to drive its organic growth. We’ll have to wait and see how the new launches will contribute to PPG Industries’ revenue growth.
Stock price updates
PPG Industries had a positive week with gains of 2.0% and closed at $101.86 for the week ending January 11. Despite the gains in the stock price, PPG Industries traded 3.6% below the 100-day moving average price of $105.70. So far in 2019, PPG Industries has declined 0.4%. RPM International (RPM) has declined 7.0%, while Sherwin-Wiliams (SHW) and Axalta (AXTA) have gained 0.6% and 6.6%, respectively.
PPG Industries’ 14-day relative strength index is at 51, which indicates that the stock isn’t overbought or oversold.
Investors could hold PPG Industries indirectly by investing in the Guggenheim S&P 500 Equal Weight Materials ETF (RTM). RTM gained 2.4% during the week. RTM invests 4.0% of its portfolio in PPG Industries.