PPG Industries, Inc.’s PPG shares have shot up 19.3% year to date, outperforming the industry’s rise of 10%. The company has also topped the S&P 500’s 16.7% rise over the same period.Image Source: Zacks Investment ResearchLet’s dive into the factors behind this Zacks Rank #2 (Buy) stock’s price appreciation.What’s Favoring the Stock?The solid first-quarter performance contributed to the company’s share price gain. PPG Industries recorded adjusted earnings of $1.88 per share, increasing from the year-ago quarter’s $1.31 and topping the Zacks Consensus Estimate of $1.58. Net sales rose roughly 15% year over year to $3,881 million, surpassing the Zacks Consensus Estimate of $3,691.6 million. Earnings estimates for the second quarter have been stable in the past month.The continued global economic recovery saw growth in PPG’s sales volumes by around 7% year over year along with higher volumes in every segment over the same period. A rise in the demand for automotive and general industrial coatings, a favorable foreign currency transition, acquisitions and an increase in selling prices have acted as tailwinds. The company expects the overall global coatings demand to continue to be broad-based in many of the end-use markets served.An aggressive cost-cutting and restructuring strategy has been beneficial for the company, helping it deliver incremental structural cost savings of around $115 million in 2020 and another $35 million in first-quarter 2021. Cost savings from these restructuring efforts will act as a positive catalyst for PPG. It is hopeful of achieving additional restructuring savings of $30 million in the second quarter and $125 million in full-year 2021.Acquisitions have also been a positive driving force for the company, adding to its scale of operations and portfolio as well as leading to value creation for its customers. The recent acquisitions of Ennis-Flint in December 2020, Versaflex in first-quarter 2021, and Worwag and Tikkurila in the second quarter are anticipated to significantly drive its sales and deliver synergies in the range of $25-$30 million for 2021. The Tikkurila buyout provides the company with a base in many northern and eastern European countries, while the Worwag transaction helps expand its current customer distribution in key geographies.The company also stands to benefit from a diversified business in terms of products offered and regions served, in turn enabling it to deliver growth to shareholders by mobilizing opportunities in fast-growing regions. It is also dedicated to boosting shareholder returns. In 2020, the company returned around $500 million to shareholders through dividends. It also paid out dividends worth $130 million in the last reported quarter. PPG Industries had roughly $1.5 billion remaining under its current share repurchase authorization at the end of 2020.PPG Industries, Inc. Price and Consensus PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. QuoteOther Stocks to ConsiderOther top-ranked stocks in the basic materials space include Orion Engineered Carbons S.A OEC, Avient Corporation AVNT and Cabot Corporation CBT, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Orion has a projected earnings growth rate of 79.8% for the current year. The company’s shares have surged 77.8% over a year.Avient has a projected earnings growth rate of 64.2% for the current year. The company’s shares have appreciated 91.2% over a year.Cabot has a projected earnings growth rate of 137.5% for the current year. The company’s shares have jumped 55.4% over a year. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PPG Industries, Inc. (PPG): Free Stock Analysis Report Cabot Corporation (CBT): Free Stock Analysis Report Orion Engineered Carbons S.A (OEC): Free Stock Analysis Report Avient Corporation (AVNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research