PPG Industries (NYSE:PPG) – Equities research analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for PPG Industries in a report issued on Sunday, April 22nd. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will earn $6.50 per share for the year, down from their previous forecast of $6.60. KeyCorp also issued estimates for PPG Industries’ Q4 2018 earnings at $1.41 EPS and FY2019 earnings at $7.30 EPS.
Several other equities analysts have also weighed in on the company. Citigroup cut their target price on PPG Industries from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday. Royal Bank of Canada restated a “hold” rating on shares of PPG Industries in a report on Tuesday. Credit Suisse Group cut their target price on PPG Industries from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Robert W. Baird restated a “buy” rating and set a $125.00 target price on shares of PPG Industries in a report on Friday, April 20th. Finally, Seaport Global Securities lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. PPG Industries currently has an average rating of “Hold” and a consensus price target of $124.47.
NYSE PPG opened at $105.77 on Tuesday. PPG Industries has a fifty-two week low of $100.45 and a fifty-two week high of $122.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.66. The stock has a market cap of $27,204.50, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.93 and a beta of 1.56.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.10). 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 for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business posted $1.35 EPS. PPG Industries’s revenue for the quarter was up 8.6% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Thursday, May 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.70%. PPG Industries’s payout ratio is presently 30.66%.
In other news, VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction dated Thursday, February 22nd. The stock was 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 in the company, valued at $3,205,646.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. TIAA FSB grew its position in PPG Industries by 6.2% during the fourth quarter. TIAA FSB now owns 30,031 shares of the specialty chemicals company’s stock worth $3,508,000 after buying an additional 1,744 shares in the last quarter. BlackRock Inc. grew its position in PPG Industries by 1.2% during the fourth quarter. BlackRock Inc. now owns 14,943,714 shares of the specialty chemicals company’s stock worth $1,745,724,000 after buying an additional 175,593 shares in the last quarter. Terril Brothers Inc. acquired a new stake in PPG Industries during the fourth quarter worth about $694,000. KCM Investment Advisors LLC acquired a new stake in PPG Industries during the fourth quarter worth about $200,000. Finally, Koch Industries Inc. acquired a new stake in PPG Industries during the fourth quarter worth about $345,000. Institutional investors and hedge funds own 76.86% of the company’s stock.
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About PPG Industries
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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