In a press release on May 28, PPG Industries (PPG) will display its entire range of industry-leading powder coatings for metal office furniture at NeoCon 2019, which will be held in Chicago on June 10–12.
Some of PPG Industries’ most well-known powder coatings include PPG Envirocron, Enviracryl, and Duranar. The company’s powder coatings are used in standard laboratory equipment, personal lockers, metal racking, storage units, and other commercial interior items. PPG Industries’ expert will be available at the booth to provide more information and discuss the latest color trends in the metal office furniture space.
On May 28, PPG Industries remained flat with a marginal decline of 0.2%. PPG Industries closed at $107.51. On a year-to-date basis, PPG Industries has gained 6% in 2019. In comparison, Sherwin-Williams (SHW) and Axalta (AXTA) have gained 9.6% and 6.6%, respectively, while RPM International (RPM) has fallen 5.9%.
Despite the YTD gains, PPG Industries’ stock price is trading 2.25% below its 100-day moving average price of $109.99, which indicates some weakness in the stock. The company’s 14-day RSI (relative strength index) is at 35. The RSI is getting closer to being oversold. An RSI of 30 and below indicates that the stock is oversold, while an RSI of 70 and above indicates that the stock is overbought.
Investors could hold PPG Industries indirectly by investing in the Invesco S&P 500 Equal Weight Materials ETF (RTM). RTM has invested 4.0% of its portfolio in PPG Industries as of May 28.