PPG Industries, Inc. (NYSE:PPG) – KeyCorp upped their Q3 2018 earnings per share (EPS) estimates for shares of PPG Industries in a research note issued on Wednesday, April 11th. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will earn $1.75 per share for the quarter, up from their prior estimate of $1.52.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS.
Several other research analysts have also weighed in on PPG. Raymond James Financial started coverage on shares of PPG Industries in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $139.00 price objective on the stock. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Jefferies Group restated a “buy” rating and set a $135.00 price target on shares of PPG Industries in a research note on Wednesday, January 3rd. Atlantic Securities lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada restated a “hold” rating and set a $115.00 price target on shares of PPG Industries in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. PPG Industries currently has an average rating of “Hold” and an average price target of $125.00.
PPG Industries stock opened at $110.00 on Friday. The company has a market capitalization of $27,306.95, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.90 and a beta of 1.56. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. PPG Industries has a twelve month low of $100.45 and a twelve month high of $122.07.
In related news, VP Jean-Marie Greindl sold 9,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now directly owns 27,685 shares of the company’s stock, valued at approximately $3,205,646.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in PPG Industries by 8.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,139 shares of the specialty chemicals company’s stock valued at $3,404,000 after purchasing an additional 2,192 shares during the period. D.B. Root & Company LLC bought a new stake in PPG Industries in the 4th quarter valued at $4,658,000. KCM Investment Advisors LLC bought a new stake in PPG Industries in the 4th quarter valued at $200,000. Colonial Trust Advisors boosted its holdings in PPG Industries by 61.0% in the 4th quarter. Colonial Trust Advisors now owns 28,101 shares of the specialty chemicals company’s stock valued at $3,283,000 after purchasing an additional 10,651 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its holdings in PPG Industries by 6.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 50,580 shares of the specialty chemicals company’s stock valued at $5,909,000 after purchasing an additional 2,955 shares during the period. 76.82% of the stock is owned by institutional investors and hedge funds.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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