PPG Industries (NYSE:PPG – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.24-$2.52 for the period, compared to the consensus EPS estimate of $2.54. PPG Industries also updated its FY24 guidance to $8.34-$8.59 EPS.
PPG Industries Trading Up 0.1 %
Shares of PPG traded up $0.15 during mid-day trading on Thursday, reaching $135.11. 2,306,736 shares of the company were exchanged, compared to its average volume of 1,733,252. PPG Industries has a 52 week low of $120.32 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The stock has a market capitalization of $31.80 billion, a PE 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 two-hundred day simple moving average of $138.90.
PPG Industries (NYSE:PPG – Get Free Report) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (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 company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company earned $1.82 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that PPG Industries will post 8.46 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on PPG
Insider Buying and Selling at PPG Industries
In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.
Institutional Trading of PPG Industries
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of PPG Industries during the 2nd quarter valued at $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 bought a new stake in shares of PPG Industries during the 4th quarter valued at $30,000. Parkside Financial Bank & Trust raised its stake in shares of PPG Industries by 45.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in shares of PPG Industries during the 1st quarter valued at $40,000. 81.86% of the stock is currently owned by institutional investors.
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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