PPG Industries (NYSE:PPG) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

PPG Industries (NYSE:PPG) released its earnings results on Tuesday. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.04, Zacks reports. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.PPG Industries’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. PPG Industries updated its FY 2025 guidance to 7.600-7.700 EPS.

PPG Industries Trading Down 5.9%

Shares of PPG stock opened at $99.09 on Thursday. The company has a market cap of $22.37 billion, a P/E ratio of 22.47, a PEG ratio of 2.22 and a beta of 1.16. The stock has a 50 day simple moving average of $106.26 and a two-hundred day simple moving average of $109.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $130.05.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is presently 64.40%.

Institutional Investors Weigh In On PPG Industries

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after acquiring an additional 339 shares during the period. EP Wealth Advisors LLC grew its stake in PPG Industries by 10.8% in the second quarter. EP Wealth Advisors LLC now owns 3,379 shares of the specialty chemicals company’s stock valued at $384,000 after acquiring an additional 330 shares during the period. ICONIQ Capital LLC purchased a new position in shares of PPG Industries during the second quarter valued at approximately $253,000. Bayesian Capital Management LP purchased a new position in shares of PPG Industries during the second quarter valued at approximately $218,000. Finally, Chapman Financial Group LLC bought a new stake in PPG Industries during the second quarter worth $71,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PPG. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Citigroup reduced their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Bank of America reduced their price objective on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.00.

About PPG Industries

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.