PPG - PPG Sherwin-Williams plunge 5% as RPM results disappoint
Paint makers PPG Industries ( NYSE: PPG ) and Sherwin-Williams ( NYSE: SHW ) rank among the biggest losers on the S&P 500 Thursday, -5.5% and -5% respectively, after RPM International ( NYSE: RPM ) reported lower than expected FQ2 revenues and guidance for slower growth .
Other paint and coatings companies also are falling sharply, including H.B. Fuller ( FUL ) -4.6% , Axalta Coating Systems ( AXTA ) -3.7% , Chemours ( CC ) -2.6% .
RPM International ( RPM ) -12.5% for its biggest intraday decline in nearly three years even as Q2 net sales rose 9.3% Y/Y to a record $1.79B, as it also forecast current quarter sales will rise by a low- to mid-single-digit percentage from a year ago, which would be a lower growth rate than in the previous five quarters.
RPM's ( RPM ) gross margins have taken a hit over the past two years, and DCF and valuation metrics indicate the stock is overvalued, Prasanna Rajagopal writes in an analysis published recently on Seeking Alpha .
For further details see:
PPG, Sherwin-Williams plunge 5% as RPM results disappoint