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

PPG Industries (NYSE:PPGGet 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.

Further Reading

Earnings History for PPG Industries (NYSE:PPG)

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