PPG Industries (NYSE:PPG) Releases Quarterly Earnings Results

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

PPG Industries Stock Performance

Shares of PPG stock opened at $131.00 on Friday. The firm’s 50 day moving average price is $129.53 and its 200-day moving average price is $123.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.03 and a current ratio of 1.52. PPG Industries has a one year low of $107.06 and a one year high of $159.50. The firm has a market cap 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 Announces Dividend

The company 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. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 1.89%. PPG Industries’s dividend payout ratio (DPR) is 57.27%.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its holdings in shares of PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in shares of PPG Industries in the 1st quarter valued at $40,000. Salem Investment Counselors Inc. grew its position in shares of PPG Industries by 17.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 668 shares of the specialty chemicals company’s stock valued at $88,000 after buying an additional 100 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at $200,000. Finally, Verition Fund Management LLC purchased a new position in shares of PPG Industries in the 2nd quarter valued at $207,000. 80.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PPG. KeyCorp increased their price target on shares of PPG Industries from $125.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, January 12th. Citigroup cut their price target on shares of PPG Industries from $139.00 to $138.00 in a report on Sunday. Barclays dropped their price objective on shares of PPG Industries from $150.00 to $130.00 in a research note on Tuesday, October 11th. BMO Capital Markets raised their price objective on shares of PPG Industries from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 21st. Finally, UBS Group raised their price objective on shares of PPG Industries from $144.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

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.