PPG Industries (NYSE:PPG) Announces Quarterly Earnings Results

PPG Industries (NYSE:PPG – Get Rating) released its earnings results on Friday. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08, RTT News reports. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $131.00 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.52 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $129.53 and its two-hundred day moving average is $123.83. The firm has a market capitalization of $30.79 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.69 and a beta of 1.18. PPG Industries has a 52 week low of $107.06 and a 52 week high of $159.50.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be issued a $0.62 dividend. The ex-dividend date is Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.89%. PPG Industries’s payout ratio is currently 57.27%.

Analyst Ratings Changes

PPG has been the subject of several analyst reports. Morgan Stanley decreased their price objective on PPG Industries from $150.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, October 24th. Mizuho lowered their price objective on shares of PPG Industries from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 12th. Bank of America cut their target price on shares of PPG Industries from $164.00 to $143.00 in a research note on Tuesday, October 11th. UBS Group upped their target price on shares of PPG Industries from $144.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 11th. Finally, Wells Fargo & Company decreased their price target on PPG Industries from $118.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Institutional Trading of PPG Industries

A number of large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. raised its stake in shares of PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after buying an additional 2,048 shares during the last quarter. Sei Investments Co. lifted its position in shares of PPG Industries by 14.7% in the first quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after acquiring an additional 3,025 shares in the last quarter. Prudential PLC purchased a new stake in PPG Industries during the 1st quarter worth about $619,000. Vanguard Group Inc. lifted its holdings in PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after purchasing an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of PPG Industries by 7.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after purchasing an additional 1,283 shares during the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.