PPG Industries, Inc. (NYSE:PPG) – Equities research analysts at Northcoast Research issued their Q3 2017 earnings estimates for shares of PPG Industries in a research report issued on Tuesday. Northcoast Research analyst K. Hocevar anticipates that the specialty chemicals company will post earnings of $1.52 per share for the quarter. Northcoast Research also issued estimates for PPG Industries’ Q4 2017 earnings at $1.25 EPS, FY2017 earnings at $5.95 EPS and FY2018 earnings at $6.80 EPS.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS.
PPG has been the subject of a number of other research reports. Bank of America Corporation downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research report on Monday, July 24th. Robert W. Baird reissued a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a research report on Friday, September 1st. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a research report on Thursday, July 6th. Finally, Deutsche Bank AG lifted their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $115.19.
PPG Industries (NYSE PPG) opened at 107.99 on Thursday. PPG Industries has a 52-week low of $89.64 and a 52-week high of $113.67. The firm’s 50-day moving average is $104.24 and its 200-day moving average is $106.76. The firm has a market cap of $27.70 billion, a price-to-earnings ratio of 28.41 and a beta of 1.55.
A number of institutional investors have recently modified their holdings of PPG. BlackRock Inc. raised its stake in 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 in the last quarter. Lazard Asset Management LLC raised its position in shares of PPG Industries by 639.5% in the 1st 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 in the last quarter. Nordea Investment Management AB raised its position in shares of PPG Industries by 15,312.6% in the 1st quarter. Nordea Investment Management AB now owns 1,807,282 shares of the specialty chemicals company’s stock valued at $189,909,000 after buying an additional 1,795,556 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of PPG Industries in the 2nd quarter valued at approximately $192,226,000. Finally, OppenheimerFunds Inc. raised its position in shares of PPG Industries by 113.5% in the 1st quarter. OppenheimerFunds Inc. now owns 2,531,843 shares of the specialty chemicals company’s stock valued at $266,046,000 after buying an additional 1,346,064 shares in the last quarter. Institutional investors and hedge funds own 73.92% of the company’s stock.
In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the sale, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were paid a $0.45 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.67%. PPG Industries’s payout ratio is 46.88%.
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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