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 Up 0.1 %
Shares of NYSE PPG traded up $0.15 during mid-day trading on Thursday, reaching $135.11. 2,298,130 shares of the company’s stock traded hands, compared to its average volume of 1,733,392. 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 has a 1-year low of $120.32 and a 1-year high of $152.89. The stock has a market cap of $31.80 billion, a P/E ratio of 25.27, a PEG ratio of 1.60 and a beta of 1.28. The business has a 50-day simple moving average of $140.60 and a 200 day simple moving average of $138.90.
PPG Industries (NYSE:PPG – Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the company posted $1.82 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that PPG Industries will post 8.46 EPS for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Stock Report on PPG Industries
Insider Buying and Selling at PPG Industries
In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of PPG Industries during the second quarter worth $29,000. Harbour Investments Inc. raised its stake 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 purchasing an additional 101 shares during the period. Clear Street Markets LLC purchased a new stake in PPG Industries during the 4th quarter worth about $30,000. Parkside Financial Bank & Trust boosted its stake in PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 87 shares during the period. Finally, Achmea Investment Management B.V. purchased a new position in PPG Industries during the 1st quarter valued at about $40,000. 81.86% of the stock is owned by institutional investors.
About PPG Industries
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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