PPG Industries, Inc. (NYSE:PPG) – Analysts at Jefferies Group cut their FY2018 earnings estimates for PPG Industries in a research report issued to clients and investors on Friday. Jefferies Group analyst L. Alexander now expects that the specialty chemicals company will earn $6.50 per share for the year, down from their previous estimate of $6.55. Jefferies Group has a “Buy” rating and a $120.00 price objective on the stock. Jefferies Group also issued estimates for PPG Industries’ FY2019 earnings at $7.05 EPS.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 28.77%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 EPS.

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A number of other equities research analysts also recently weighed in on PPG. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 target price on shares of PPG Industries in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Robert W. Baird raised their target price on shares of PPG Industries from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America Corporation set a $120.00 target price on shares of PPG Industries and gave the company a “hold” rating in a research note on Friday. Finally, BidaskClub downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $118.43.

PPG Industries (NYSE PPG) opened at 117.76 on Monday. PPG Industries has a 52-week low of $89.64 and a 52-week high of $117.80. The firm has a market capitalization of $30.20 billion, a PE ratio of 30.98 and a beta of 1.55. The company’s 50-day moving average is $109.49 and its 200-day moving average is $107.98.

Hedge funds have recently made changes to their positions in the company. Polaris Greystone Financial Group LLC bought a new stake in shares of PPG Industries during the 2nd quarter valued at $1,518,000. AXA raised its position in shares of PPG Industries by 47.4% in the 2nd quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock worth $91,122,000 after purchasing an additional 266,457 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of PPG Industries by 214.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $733,000 after purchasing an additional 4,541 shares during the last quarter. BlackRock Inc. raised its position in shares of PPG Industries by 2,006.8% in the 1st quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after purchasing an additional 13,902,595 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of PPG Industries by 1.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock worth $1,948,708,000 after purchasing an additional 216,278 shares during the last quarter. Hedge funds and other institutional investors own 73.93% of the company’s stock.

In other news, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the sale, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.

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.

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

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