PPG Industries (NYSE:PPG) Posts Earnings Results, Hits Estimates

PPG Industries (NYSE:PPG) posted its earnings results on Thursday. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86, Yahoo Finance reports. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 earnings per share.

PPG Industries Stock Down 3.1 %

Shares of NYSE PPG opened at $130.92 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $30.81 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The stock’s fifty day simple moving average is $140.36 and its two-hundred day simple moving average is $138.88. PPG Industries has a 12-month low of $120.32 and a 12-month high of $152.89.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.99%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent research reports. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $163.00 to $149.00 in a research report on Tuesday, February 27th. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. Redburn Atlantic downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Finally, UBS Group decreased their price objective on PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $158.00.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Trading of PPG Industries

Several hedge funds and other institutional investors have recently bought and sold shares of PPG. Moneta Group Investment Advisors LLC raised its stake in PPG Industries by 163,082.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after acquiring an additional 4,155,341 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PPG Industries by 17.2% during the 4th quarter. Vanguard Group Inc. now owns 24,480,664 shares of the specialty chemicals company’s stock valued at $3,661,083,000 after buying an additional 3,600,558 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of PPG Industries by 602,706.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock valued at $331,994,000 after buying an additional 2,639,853 shares during the last quarter. Norges Bank purchased a new position in shares of PPG Industries during the 4th quarter valued at about $318,155,000. Finally, First Trust Advisors LP raised its stake in shares of PPG Industries by 280.6% during the 1st quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock valued at $227,393,000 after buying an additional 1,279,104 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.