PPG Industries, Inc. (NYSE:PPG) – Investment analysts at Seaport Res Ptn cut their Q4 2021 earnings per share estimates for PPG Industries in a research note issued on Wednesday, July 21st. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will earn $1.75 per share for the quarter, down from their prior estimate of $1.83. Seaport Res Ptn also issued estimates for PPG Industries’ Q1 2022 earnings at $2.08 EPS, Q2 2022 earnings at $2.62 EPS, Q3 2022 earnings at $2.45 EPS and Q4 2022 earnings at $2.02 EPS. PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Sunday, July 18th. The specialty chemicals company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.25). PPG Industries had a net margin of 9.71% and a return on equity of 30.53%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis.
A number of other analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on PPG Industries from $180.00 to $193.00 and gave the stock an “outperform” rating in a research note on Friday, May 14th. Argus boosted their price objective on PPG Industries from $157.00 to $193.00 and gave the stock a “buy” rating in a research note on Monday, April 19th. Wells Fargo & Company lowered their price objective on PPG Industries from $195.00 to $189.00 and set an “overweight” rating on the stock in a research note on Wednesday. Zacks Investment Research lowered PPG Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research note on Tuesday, June 22nd. Finally, The Goldman Sachs Group boosted their price objective on PPG Industries from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, May 11th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. PPG Industries currently has an average rating of “Buy” and an average price target of $173.75.
Shares of NYSE:PPG opened at $159.77 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.36 and a quick ratio of 1.06. The stock has a 50 day moving average price of $173.83. The firm has a market capitalization of $37.88 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.15 and a beta of 1.13. PPG Industries has a 1 year low of $105.94 and a 1 year high of $182.97.
A number of hedge funds and other institutional investors have recently modified their holdings of PPG. JPMorgan Chase & Co. increased its holdings in PPG Industries by 55.6% during the 1st quarter. JPMorgan Chase & Co. now owns 13,067,664 shares of the specialty chemicals company’s stock worth $1,963,549,000 after purchasing an additional 4,671,397 shares during the period. Norges Bank purchased a new stake in PPG Industries during the 4th quarter worth about $646,570,000. Morgan Stanley increased its holdings in PPG Industries by 46.4% during the 4th quarter. Morgan Stanley now owns 2,117,435 shares of the specialty chemicals company’s stock worth $305,378,000 after purchasing an additional 671,287 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in PPG Industries during the 4th quarter worth about $96,792,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of PPG Industries by 99.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 768,867 shares of the specialty chemicals company’s stock worth $115,530,000 after acquiring an additional 383,513 shares in the last quarter. Institutional investors own 79.60% of the company’s stock.
In other PPG Industries news, EVP Timothy M. Knavish sold 22,851 shares of the company’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $178.78, for a total transaction of $4,085,301.78. Following the sale, the executive vice president now owns 27,772 shares in the company, valued at approximately $4,965,078.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.43% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Tuesday, August 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, August 9th. This is an increase from PPG Industries’s previous quarterly dividend of $0.54. PPG Industries’s payout ratio is currently 37.89%.
PPG Industries Company Profile
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.
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