PPG Industries, Inc. (NYSE:PPG) – Analysts at SunTrust Banks reduced their FY2017 earnings per share estimates for shares of PPG Industries in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will earn $6.12 per share for the year, down from their prior estimate of $6.23. SunTrust Banks also issued estimates for PPG Industries’ Q4 2017 earnings at $1.29 EPS.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. PPG Industries had a net margin of 5.79% and a return on equity of 30.40%. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis.

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Earnings History and Estimates for PPG Industries (NYSE:PPG)

Other equities analysts have also issued research reports about the company. TheStreet raised PPG Industries from a “c+” rating to a “b+” rating in a report on Monday, May 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 price objective (up previously from $113.00) on shares of PPG Industries in a report on Tuesday, April 18th. Barclays PLC raised their price objective on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, April 24th. Deutsche Bank AG reaffirmed a “hold” rating and set a $110.00 price objective (up previously from $102.00) on shares of PPG Industries in a report on Sunday, April 23rd. Finally, Wells Fargo & Company lowered PPG Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, March 9th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $114.46.

Shares of PPG Industries (NYSE:PPG) opened at 111.16 on Monday. PPG Industries has a 1-year low of $89.64 and a 1-year high of $113.49. The stock has a market cap of $28.48 billion, a P/E ratio of 34.04 and a beta of 1.54. The company’s 50-day moving average is $108.43 and its 200 day moving average is $102.92.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of PPG Industries by 2.9% in the first quarter. Vanguard Group Inc. now owns 19,441,146 shares of the specialty chemicals company’s stock valued at $2,042,875,000 after buying an additional 541,039 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of PPG Industries by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock valued at $1,948,708,000 after buying an additional 216,278 shares during the period. BlackRock Inc. increased its stake in shares of PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after buying an additional 13,902,595 shares during the period. Clearbridge Investments LLC increased its stake in shares of PPG Industries by 4.7% in the first quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock valued at $524,545,000 after buying an additional 222,376 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of PPG Industries by 639.5% in the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock valued at $442,716,000 after buying an additional 3,643,443 shares during the period. Institutional investors and hedge funds own 72.56% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, May 8th. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. PPG Industries’s dividend payout ratio (DPR) is 48.93%.

About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. 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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