PPG Industries (NYSE:PPG – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 8.340-8.590 for the period, compared to the consensus earnings per share estimate of 8.480. The company issued revenue guidance of -. PPG Industries also updated its FY24 guidance to $8.34-$8.59 EPS.
PPG Industries Stock Performance
NYSE PPG traded up $0.15 during trading hours on Thursday, hitting $135.11. 2,298,130 shares of the stock were exchanged, compared to its average volume of 1,733,392. PPG Industries has a 12-month low of $120.32 and a 12-month high of $152.89. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The company has a market cap of $31.80 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28. The stock has a 50-day moving average of $140.60 and a 200 day moving average of $138.90.
PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion for 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 earnings per share. As a group, equities research analysts forecast that PPG Industries will post 8.46 earnings per share for the current year.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on PPG
Insider Transactions at PPG Industries
In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by insiders.
Institutional Trading of PPG Industries
Several hedge funds have recently added to or reduced their stakes in the business. West Michigan Advisors LLC raised its stake in PPG Industries by 3.4% during the 4th quarter. West Michigan Advisors LLC now owns 2,262 shares of the specialty chemicals company’s stock worth $338,000 after buying an additional 74 shares during the period. Colony Group LLC increased its position in shares of PPG Industries by 3.0% in the second quarter. Colony Group LLC now owns 2,540 shares of the specialty chemicals company’s stock valued at $377,000 after acquiring an additional 74 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of PPG Industries by 0.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,009 shares of the specialty chemicals company’s stock valued at $1,510,000 after acquiring an additional 79 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of PPG Industries by 0.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,581 shares of the specialty chemicals company’s stock valued at $1,569,000 after acquiring an additional 83 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position 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 last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
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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