Analysts predict that PPG Industries, Inc. (NYSE:PPG) will report $3.67 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for PPG Industries’ earnings, with the highest sales estimate coming in at $3.74 billion and the lowest estimate coming in at $3.63 billion. PPG Industries posted sales of $3.65 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 0.5%. The company is scheduled to issue its next earnings results on Thursday, January 16th.
According to Zacks, analysts expect that PPG Industries will report full-year sales of $15.14 billion for the current fiscal year, with estimates ranging from $15.10 billion to $15.21 billion. For the next financial year, analysts expect that the company will post sales of $15.53 billion, with estimates ranging from $15.24 billion to $16.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover PPG Industries.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.06. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. PPG Industries’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 EPS.
Shares of NYSE:PPG opened at $127.96 on Wednesday. The stock has a market capitalization of $30.47 billion, a PE ratio of 21.61, a P/E/G ratio of 2.21 and a beta of 1.22. PPG Industries has a 1 year low of $94.41 and a 1 year high of $130.81. The firm has a fifty day moving average price of $126.41 and a 200 day moving average price of $117.43. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, November 8th. PPG Industries’s dividend payout ratio (DPR) is currently 34.46%.
In other news, CEO Michael H. Mcgarry sold 11,916 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $125.00, for a total value of $1,489,500.00. Following the completion of the sale, the chief executive officer now directly owns 131,350 shares of the company’s stock, valued at $16,418,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael H. Mcgarry sold 30,450 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $130.00, for a total value of $3,958,500.00. Following the completion of the sale, the chief executive officer now directly owns 149,884 shares of the company’s stock, valued at $19,484,920. The disclosure for this sale can be found here. Insiders sold a total of 54,366 shares of company stock worth $6,888,000 in the last ninety days. Insiders own 0.37% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Krane Funds Advisors LLC acquired a new position in shares of PPG Industries in the second quarter valued at $25,000. Prime Capital Investment Advisors LLC bought a new stake in PPG Industries in the 3rd quarter valued at $25,000. Coastal Investment Advisors Inc. raised its stake in shares of PPG Industries by 280.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 228 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of PPG Industries in the 2nd quarter valued at $29,000. Finally, Atwater Malick LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at $42,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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