PPG Industries (NYSE:PPG) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

PPG Industries (NYSE:PPG - Get Free Report) announced its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.10, Zacks reports. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company's revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.87 EPS. PPG Industries updated its FY 2025 guidance to 7.750-8.050 EPS.

PPG Industries Price Performance

Shares of NYSE PPG traded up $2.40 during midday trading on Friday, hitting $111.17. The company had a trading volume of 963,932 shares, compared to its average volume of 1,791,904. The business has a 50-day simple moving average of $107.05 and a two-hundred day simple moving average of $116.52. The firm has a market capitalization of $25.23 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.45%. PPG Industries's dividend payout ratio (DPR) is 57.51%.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

A hedge fund recently raised its stake in PPG Industries stock. Brighton Jones LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,075 shares of the specialty chemicals company's stock after buying an additional 339 shares during the period. Brighton Jones LLC's holdings in PPG Industries were worth $487,000 as of its most recent filing with the SEC. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the subject of several recent research reports. Bank of America reiterated a "neutral" rating and issued a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their target price on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Barclays reiterated an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries currently has an average rating of "Hold" and an average target price of $129.42.

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.