PPG Industries, Inc. (NYSE:PPG) – Research analysts at Jefferies Financial Group dropped their Q3 2021 earnings estimates for PPG Industries in a report issued on Monday, July 19th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will post earnings per share of $1.94 for the quarter, down from their prior forecast of $2.28. Jefferies Financial Group also issued estimates for PPG Industries’ Q4 2021 earnings at $1.74 EPS, FY2021 earnings at $7.50 EPS, FY2022 earnings at $8.85 EPS and FY2023 earnings at $9.95 EPS.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Sunday, July 18th. The specialty chemicals company reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.19 by ($0.25). PPG Industries had a return on equity of 30.53% and a net margin of 9.71%. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the company posted $0.99 earnings per share. The company’s revenue was up 44.6% compared to the same quarter last year.
NYSE PPG opened at $159.77 on Thursday. PPG Industries has a 1-year low of $105.94 and a 1-year high of $182.97. 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 firm has a market capitalization of $37.88 billion, a P/E ratio of 21.59, a PEG ratio of 1.15 and a beta of 1.13. The stock has a fifty day moving average of $173.83.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th will be paid a dividend of $0.59 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.54. The ex-dividend date is Monday, August 9th. This represents a $2.36 dividend on an annualized basis and a yield of 1.48%. PPG Industries’s dividend payout ratio (DPR) is currently 37.89%.
In other news, EVP Timothy M. Knavish sold 22,851 shares of the firm’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $178.78, for a total transaction of $4,085,301.78. Following the completion of the sale, the executive vice president now owns 27,772 shares of the company’s stock, valued at $4,965,078.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.43% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Advisory Solutions LLC acquired a new stake in shares of PPG Industries during the second quarter worth approximately $424,000. Brookstone Capital Management acquired a new stake in shares of PPG Industries in the second quarter valued at approximately $1,146,000. CBOE Vest Financial LLC increased its holdings in shares of PPG Industries by 26.6% in the second quarter. CBOE Vest Financial LLC now owns 22,989 shares of the specialty chemicals company’s stock valued at $3,903,000 after purchasing an additional 4,825 shares in the last quarter. TRH Financial LLC increased its holdings in shares of PPG Industries by 17.6% in the second quarter. TRH Financial LLC now owns 28,364 shares of the specialty chemicals company’s stock valued at $4,815,000 after purchasing an additional 4,236 shares in the last quarter. Finally, Insight Folios Inc acquired a new stake in shares of PPG Industries in the second quarter valued at approximately $277,000. 79.60% of the stock is owned by institutional investors.
About PPG Industries
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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