PPG Industries (NYSE:PPG) Posts Quarterly Earnings Results, Meets Estimates

Key Points

• PPG Industries reported quarterly earnings of $2.22 per share, exceeding analysts' expectations of $2.21.
• The company announced an increase in its quarterly dividend to $0.71 per share, up from $0.68, reflecting a dividend yield of 2.52%.
• Analysts have a consensus rating of "Moderate Buy" on PPG Industries, with a price target averaging $129.45.

PPG Industries (NYSE:PPG - Get Free Report) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.22, Zacks reports. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. During the same quarter last year, the business posted $2.50 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. PPG Industries updated its FY 2025 guidance to 7.750-8.050 EPS.

PPG Industries Stock Down 1.2%

Shares of NYSE PPG traded down $1.38 during trading on Tuesday, reaching $112.59. The company had a trading volume of 2,254,733 shares, compared to its average volume of 2,063,588. The business's 50-day moving average is $113.41 and its 200 day moving average is $111.98. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The stock has a market cap of $25.56 billion, a PE ratio of 24.11, a P/E/G ratio of 2.43 and a beta of 1.16. PPG Industries has a 12-month low of $90.24 and a 12-month high of $137.24.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is 60.81%.

Institutional Trading of PPG Industries

Several institutional investors have recently bought and sold shares of PPG. Brighton Jones LLC lifted its position in PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 339 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of PPG Industries by 31.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company's stock valued at $421,000 after buying an additional 920 shares during the period. Empowered Funds LLC boosted its stake in shares of PPG Industries by 6.1% in the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company's stock worth $2,882,000 after buying an additional 1,526 shares during the last quarter. Finally, Woodline Partners LP grew its holdings in shares of PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company's stock worth $2,143,000 after acquiring an additional 5,667 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price target on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Bank of America reissued a "neutral" rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Citigroup lifted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.45.

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.