PPG Industries (NYSE:PPG) Releases Earnings Results, Beats Estimates By $0.08 EPS

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

PPG Industries Price Performance

Shares of NYSE:PPG traded up $7.40 during midday trading on Friday, hitting $131.00. The company’s stock had a trading volume of 4,117,580 shares, compared to its average volume of 994,343. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.03 and a current ratio of 1.52. The business’s 50 day simple moving average is $129.53 and its 200 day simple moving average is $123.83. PPG Industries has a 12-month low of $107.06 and a 12-month high of $159.50. The company has a market cap of $30.79 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18.

PPG Industries Announces Dividend

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

Hedge Funds Weigh In On PPG Industries

A number of institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in shares of PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of PPG Industries in the first quarter valued at approximately $40,000. Salem Investment Counselors Inc. grew its holdings in shares of PPG Industries by 17.6% in the first quarter. Salem Investment Counselors Inc. now owns 668 shares of the specialty chemicals company’s stock valued at $88,000 after purchasing an additional 100 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $200,000. Finally, Verition Fund Management LLC acquired a new position in shares of PPG Industries in the second quarter valued at approximately $207,000. 80.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lowered their target price on shares of PPG Industries from $150.00 to $130.00 in a research note on Tuesday, October 11th. Robert W. Baird decreased their price target on shares of PPG Industries from $180.00 to $125.00 in a research note on Tuesday, October 11th. Citigroup decreased their price target on shares of PPG Industries from $139.00 to $138.00 in a research note on Sunday. Mizuho decreased their target price on shares of PPG Industries from $146.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 12th. Finally, Royal Bank of Canada cut shares of PPG Industries from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $128.00 to $129.00 in a research report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $133.00.

PPG Industries Company Profile

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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.