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Market Update (NYSE:PPG): PPG Begins Using Chloride-Based TiO2 from Henan Billions in Coatings Production

[Business Wire] – PITTSBURGH–(BUSINESSWIRE)– PPG Industries (NYSE:PPG – News) today announced it has begun using chloride-grade titanium dioxide (TiO2) produced in commercial quantities by Henan Billions Chemicals Co., Ltd., including PPG’s licensed chloride-based technology. The 366,000-square-meter plant that produced the chloride-grade TiO2 is located in the Henan Province of China and currently has capacity to produce 100,000 metric tons of chloride-grade TiO2 per year with the capability to expand. Under an agreement established in 2012, PPG licensed certain chloride-based technologies for the manufacture of TiO2 to Henan Billions for use on a global basis. Read more on this. PPG Industries, Inc. (PPG) , valued at $26.79B, started the session at $98.72. Looking at the stock, its one day range is $98.47 to $99.42 with the price of the stock fluctuating between $82.93 to $118.95 over the last 52 weeks. PPG shares are currently priced at 17.73x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.31x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.44 per share annually in dividends, yielding 1.46%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.22 per share, which would be $0.16 better than the year-ago quarter and a $0.02 sequential decrease. The full-year EPS estimate is $5.69 which would be a $0.81 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.76 Billion. If reported, that would be a 1.35% increase over the year-ago quarter. Recently, RBC Capital Mkts Initiated PPG at Outperform (Oct 9, 2014). Previously, Robert W. Baird Initiated PPG at to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $118.13, which is 19.66% above where the stock opened this morning. See more in (NYSE:PPG) Similar Articles: Market Update (NYSE:PPG): PPG Announces Leadership Changes Company Update: PPG Industries Inc (NYSE:PPG) – PPG Marks 30 Years of Coatings Application Development at Flint, Michigan, Center Market Update (NYSE:PPG): PPG Completes Acquisition of Specialty Coatings and Materials Manufacturer Cuming Microwave
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