PPG Industries (NYSE:PPG) announced its quarterly earnings data on Thursday. The specialty chemicals company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.10), Bloomberg Earnings reports. PPG Industries had a net margin of 10.94% and a return on equity of 26.15%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company posted $1.35 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis.
NYSE PPG opened at $108.87 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $27,396.91, a P/E ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.56. PPG Industries has a 12 month low of $100.45 and a 12 month high of $122.07.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Thursday, May 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 30.66%.
A number of equities research analysts have commented on the stock. Robert W. Baird reissued a “buy” rating and issued a $125.00 price objective on shares of PPG Industries in a research report on Friday. Credit Suisse Group dropped their price objective on shares of PPG Industries from $124.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday. Atlantic Securities downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating in a research report on Wednesday, January 17th. Northcoast Research reissued a “buy” rating and issued a $128.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. Finally, ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $124.59.
In related news, VP Jean-Marie Greindl sold 9,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total value of $1,100,005.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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