PPG Industries, Inc. (NYSE:PPG) – Analysts at Seaport Global Securities reduced their Q3 2017 EPS estimates for shares of PPG Industries in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will earn $1.55 per share for the quarter, down from their prior forecast of $1.73. Seaport Global Securities also issued estimates for PPG Industries’ Q4 2017 earnings at $1.34 EPS.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “PPG Industries, Inc. Forecasted to Earn Q3 2017 Earnings of $1.55 Per Share (PPG)” was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/30/ppg-industries-inc-forecasted-to-earn-q3-2017-earnings-of-1-55-per-share-ppg.html.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Thursday, July 6th. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group set a $113.00 price target on shares of PPG Industries and gave the company a “buy” rating in a research note on Sunday, July 23rd. Finally, Robert W. Baird restated a “buy” rating and issued a $115.00 price target on shares of PPG Industries in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $115.19.
PPG Industries (PPG) opened at 108.66 on Thursday. The firm has a market cap of $27.87 billion, a PE ratio of 28.59 and a beta of 1.55. The firm’s 50-day moving average price is $104.24 and its 200 day moving average price is $106.76. PPG Industries has a 52-week low of $89.64 and a 52-week high of $113.67.
Large investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC boosted its holdings in PPG Industries by 10,896.0% during the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 10,896 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in PPG Industries during the second quarter worth approximately $105,000. V Wealth Management LLC bought a new stake in PPG Industries during the second quarter worth approximately $112,000. State of Alaska Department of Revenue bought a new stake in PPG Industries during the second quarter worth approximately $113,000. Finally, Global X Management Co. LLC boosted its holdings in PPG Industries by 26.7% during the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 73.92% of the company’s stock.
In related news, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 15,545 shares in the company, valued at $1,593,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was 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 of the company’s stock, valued at $5,316,998.40. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.66%. 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. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
PPG Industries Company Profile
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.
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