PPG Industries (NYSE:PPG – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.420-2.520 for the period, compared to the consensus EPS estimate of 2.550. The company issued revenue guidance of -. PPG Industries also updated its FY 2024 guidance to 8.340-8.590 EPS.
PPG Industries Stock Performance
Shares of NYSE PPG opened at $135.11 on Friday. The firm has a 50 day moving average of $140.53 and a 200 day moving average of $138.87. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth 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.
PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. On average, research analysts anticipate that PPG Industries will post 8.46 earnings per share for the current year.
Analysts Set New Price Targets
View Our Latest Stock Analysis on PPG Industries
Insider Activity at PPG Industries
In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by insiders.
Institutional Investors Weigh In On PPG Industries
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of PPG Industries in the second quarter valued at $29,000. Harbour Investments Inc. raised its stake in shares of PPG Industries by 84.9% in the first 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 period. Clear Street Markets LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at $30,000. Parkside Financial Bank & Trust raised its stake in shares of PPG Industries by 45.8% in the first 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 period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of PPG Industries in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.
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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