NEW YORK (TheStreet) -- Shares of PPG Industries (PPG) were increasing in early-afternoon trading on Thursday after the company posted in-line results for the 2016 third quarter.

Before today's opening bell, the Pittsburgh-based paint and coatings company reported adjusted earnings of $1.56 per share on revenue of $3.79 billion.

Analysts surveyed by FactSet had projected earnings of $1.56 per share on revenue of $3.79 billion.

Global sales volumes rose 1.6% sequentially despite "a noticeable and broad deceleration" of volume growth trends in Europe, PPG noted.

"Looking ahead to the fourth quarter, we expect a continuation of only modest improvements in global demand and expect our year-over-year earnings growth rates to be comparable to or slightly higher than the third quarter," CEO Michael McGarry said in a statement.

"As a result, we are reviewing various restructuring scenarios to reduce our structural operating and functional costs, with an emphasis in regions or end-use markets where conditions are the weakest," he added.

Separately, TheStreet Ratings Team has as a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its growth in earnings per share, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and notable return on equity.

The team believes its strengths outweigh the fact that the company shows weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PPG