PPG Industries (NYSE:PPG) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

PPG Industries (NYSE:PPGGet Rating) announced its quarterly earnings data on Friday. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08, RTT News reports. PPG Industries had a net margin of 6.08% and a return on equity of 23.00%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the company earned $1.26 EPS. PPG Industries’s revenue was down .1% compared to the same quarter last year.

PPG Industries Price Performance

PPG Industries stock opened at $131.00 on Friday. The firm has a market cap of $30.79 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.70 and a beta of 1.18. PPG Industries has a 52-week low of $107.06 and a 52-week high of $159.50. The company has a quick ratio of 1.03, a current ratio of 1.52 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $129.53 and its two-hundred day moving average is $123.80.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 17th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.89%. PPG Industries’s dividend payout ratio (DPR) is presently 54.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PPG. Credit Suisse Group upped their price objective on shares of PPG Industries from $104.00 to $118.00 and gave the company an “underperform” rating in a research note on Friday. StockNews.com upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. UBS Group boosted their target price on shares of PPG Industries from $144.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. Wells Fargo & Company decreased their target price on shares of PPG Industries from $118.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 9th. Finally, KeyCorp boosted their target price on shares of PPG Industries from $125.00 to $144.00 and gave the company an “overweight” rating in a report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently modified their holdings of PPG. Parkside Financial Bank & Trust grew its holdings in shares of PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 87 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in PPG Industries in the first quarter valued at approximately $40,000. Salem Investment Counselors Inc. grew its holdings in PPG Industries by 17.6% in the first quarter. Salem Investment Counselors Inc. now owns 668 shares of the specialty chemicals company’s stock valued at $88,000 after purchasing an additional 100 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in PPG Industries in the first quarter valued at approximately $200,000. Finally, Verition Fund Management LLC purchased a new stake in PPG Industries in the second quarter valued at approximately $207,000. 80.04% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Company Profile

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

Earnings History for PPG Industries (NYSE:PPG)

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