PPG Industries (NYSE:PPG) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02, MarketWatch Earnings reports. PPG Industries had a return on equity of 25.01% and a net margin of 7.85%. During the same period in the previous year, the company posted $1.31 earnings per share.
PPG opened at $137.82 on Friday. The business has a 50 day simple moving average of $145.76 and a two-hundred day simple moving average of $130.78. The firm has a market capitalization of $32.55 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 1.16. PPG Industries has a one year low of $69.77 and a one year high of $153.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 12th. Shareholders of record on Friday, February 19th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.57%. PPG Industries’s payout ratio is 34.73%.
PPG has been the subject of a number of research reports. Credit Suisse Group upped their price objective on PPG Industries from $130.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Zacks Investment Research lowered PPG Industries from a “buy” rating to a “hold” rating and set a $154.00 target price for the company. in a research note on Tuesday, December 22nd. Laurentian raised PPG Industries to a “buy” rating in a research note on Wednesday, December 16th. Berenberg Bank raised PPG Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from $135.00 to $165.00 in a research note on Thursday, January 14th. Finally, Wells Fargo & Company boosted their target price on PPG Industries from $146.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. PPG Industries currently has an average rating of “Buy” and an average target price of $137.42.
In other PPG Industries news, VP William E. Schaupp sold 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $134.66, for a total transaction of $518,441.00. Following the completion of the transaction, the vice president now owns 4,333 shares of the company’s stock, valued at approximately $583,481.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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