Afrika Bambaataa, a man widely considered one of the main pioneers of hip-hop, died in Pennsylvania of prostate cancer on Thursday, according to his lawyer. (Image credit: Henny Ray Abrams)
Afrika Bambaataa, a man widely considered one of the main pioneers of hip-hop, died in Pennsylvania of prostate cancer on Thursday, according to his lawyer. (Image credit: Henny Ray Abrams)
Andre2013/iStock via Getty Images In this article, I'll be providing an investor update on PPG Industries ( PPG ). I last covered this company about 5 months ago, rated it a "BUY", and continued to hold a "BUY" rating on the stock, citing favorable upside and underlying trends. This was similar to a European company with the same sort of segments and products that I also cover, AkzoNobel ( AKZOY )...
Andre2013/iStock via Getty Images In this article, I'll be providing an investor update on PPG Industries ( PPG ). I last covered this company about 5 months ago, rated it a "BUY", and continued to hold a "BUY" rating on the stock, citing favorable upside and underlying trends. This was similar to a European company with the same sort of segments and products that I also cover, AkzoNobel ( AKZOY ). While PPG hasn't outperformed massively since, there's been an interesting amount of volatility to the company that, if you paid attention, allowed you to make a short-term massive RoR. I sold only part of my position at the time, and PGG isn't really my biggest position either (AkzoNobel is a company that I have a lot more in. But the rate of return, in the short term, that I was able to generate was certainly not a bad one. Seeking Alpha PPG Industries RoR Why did the company go up so significantly, only to decline significantly again after a very short time? This is what I will be trying to look into in this article. The company is a very solid business, the second-largest supplier of all coats, paints, and specialty materials, and recognized as one of the biggest by revenue, with a 130+ year history under its belt. While it does have volatile end markets (such as the automotive/industrial combination, which also impacts peers like AKZOY), as well as feedstock volatility and sensitivity. Most of the companies that work in paints and coatings also have residual legal exposure due to so-called "forever" chemicals, which still cause liabilities and costs. However, generally speaking, the latest results imply a good future and good potential despite these risks. While I don't agree with all of the things that the company is doing, it's doing enough "right" here that I believe my upside is still there. If you recall, I gave the company a PT of $125/share. PPG Industries went up and, in fact, exceeded this PT not that long ago, going up to about $130/share, at which point I ...