Plasti-Kote is indeed owned by Valspar.
The rest of the products not withstanding, the Plasti-Kote line still seems to be essentially the same stuff, just in a new can with a screwy nozzle. I suspect that nozzle is what's causing the lay-down issues.
It took me a few passes to get used to that new nozzle, but I haven't had any issues personally and still vastly prefer Plasti-Kote primer to Dupli-Color primer.
Now, the new Dupli-Color "Color Match" paints I've used have been awful. I can't get a good paint job out of the can. I'm going to try decanting some into my airbrush and see if that helps the problem.
Charlie Larkin