I bought in just north of 30 cents, averaged down today, will continue to average down with fresh cash as SP drops further, however, I think we're going to see a couple of years of turn-around.
We have to be honest: the trend is down, it's working against us - the dividend is coming out of reserves and even if you exclude the "one-offs", things aren't moving in the right direction.
On the numbers, I think this is a fabulous opportunity - and I've bought it - but I fear the knife has further to drop. Senior management has no significant manufacturing experience, the drought and what it means for packaging, head-winds in the economy and so forth. PPG is a risky bet, IMHO, but in the context of my portfolio, it's a bet worth making.
PPG Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
