PPG Industries (NYSE:PPG) Releases Quarterly Earnings Results

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

PPG Industries Stock Down 3.1 %

PPG stock opened at $130.92 on Friday. The company’s 50 day simple moving average is $140.36 and its 200-day simple moving average is $138.88. The firm has a market capitalization of $30.81 billion, a PE ratio of 22.11, a P/E/G ratio of 1.61 and a beta of 1.28. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05.

PPG Industries Announces Dividend

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

Insider Activity

In related news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 in the company, valued at $4,008,192.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Institutional Trading of PPG Industries

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in PPG Industries by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 470,605 shares of the specialty chemicals company’s stock worth $70,380,000 after acquiring an additional 3,684 shares during the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in PPG Industries during the fourth quarter worth approximately $341,000. DRW Securities LLC purchased a new position in PPG Industries during the fourth quarter worth approximately $205,000. Oarsman Capital Inc. purchased a new position in PPG Industries during the fourth quarter worth approximately $262,000. Finally, Clarity Asset Management Inc. purchased a new position in PPG Industries during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of research reports. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Redburn Atlantic cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Thursday, February 1st. UBS Group cut their price target on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a report on Friday. Finally, Citigroup cut their price target on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.00.

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.