PPG Industries (NYSE:PPG – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.24-$2.52 for the period, compared to the consensus earnings per share estimate of $2.54. PPG Industries also updated its FY 2024 guidance to 8.340-8.590 EPS.
PPG Industries Trading Up 0.1 %
Shares of PPG opened at $135.11 on Friday. The stock’s 50-day moving average is $140.53 and its two-hundred day moving average is $138.87. The stock has a market cap of $31.80 billion, a PE ratio of 25.30, a P/E/G ratio of 1.61 and a beta of 1.28. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05.
PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that PPG Industries will post 8.46 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Stock Report on PPG Industries
Insiders Place Their Bets
In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.
Institutional Investors Weigh In On PPG Industries
A number of institutional investors have recently added to or reduced their stakes in PPG. Quarry LP acquired a new stake in PPG Industries in the second quarter worth approximately $29,000. Harbour Investments Inc. lifted its position in shares of PPG Industries by 84.9% during the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 101 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of PPG Industries during the 4th quarter valued at $30,000. Parkside Financial Bank & Trust lifted its position in shares of PPG Industries by 45.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. Finally, Achmea Investment Management B.V. acquired a new stake in shares of PPG Industries during the 1st quarter valued at $40,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; 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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