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PPG Industries to Exhibit Fastener Coatings in Las Vegas

Zacks
PPG Industries PPG will exhibit its complete line of fastener coatings and global support capabilities for the automotive, construction and general metal-fabrication industries at the 2017 International Fastener Expo from Oct 18-19 at the Las Vegas Convention Center.
The company will highlight the features of Alltech Engineered Finishes facility. Owned by PPG Industries in Tawain, this facility offers an array of pretreatment and electrocoat (e-coat) finishing services for fasteners and related products. The other products to be displayed at the event include Electropolyseal bulk coatings, the Spincoat family of zinc-rich finishes and Rustarest 53253 oil pretreatments.
PPG Industries’ Electropolyseal coatings provide bulk processing of small parts and fasteners for e-coat lines using barrel and basket application methods. Apart from being compatible with zinc-rich liquid coatings for dip-spin, dip-drain and spray lines, they enable manufacturers to manage costs and increase product performance by combining bulk application processes with high-quality finishes.
Spincoat AR and Spincoat ZR and Electropolyseal provide torque-modified finishes via e-coat and dip-spin processes. They are user friendly and can be used for consistent application. They are compliant with the Restriction of Hazardous Substances directive as well as chrome-free and lead-free.
PPG Industries has underperformed the industry over the past six months. The company’s shares have moved up around 7.7% over this period, compared with roughly 16.7% gain recorded by the industry.
PPG Industries is taking steps for growing organically. The company is also taking measures to lower costs. The company also remains committed to deploy cash on acquisitions and share repurchases. It plans to deploy $2.5-$3.5 billion cash for acquisitions and share repurchases in 2017 and 2018 combined and is now targeting the top end of that range at a minimum.
Additionally, the company remains on track with its cost cutting and restructuring actions and is expected to deliver $120-$130 million in annual savings, with $40-$50 million of savings expected to be realized in 2017.
However, PPG Industries faces currency headwind and macroeconomic challenges. Some of its end-markets including marine still remain sluggish. It is also exposed to raw materials cost pressure.

PPG Industries, Inc. Price and Consensus
PPG Industries currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the chemical space are The Chemours Company CC, FMC Corporation FMC and Koppers Holding Inc. KOP. All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has expected long-term earnings growth of 15.5%.
FMC has expected long-term earnings growth of 11.3%.
Koppers has expected long-term earnings growth of 18%.
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