PPG Industries (NYSE:PPG – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $8.34-$8.59 for the period, compared to the consensus earnings per share estimate of $8.48. PPG Industries also updated its Q2 guidance to $2.24-$2.52 EPS.
PPG Industries Trading Up 0.1 %
Shares of NYSE PPG traded up $0.15 during mid-day trading on Thursday, reaching $135.11. 2,308,894 shares of the company’s stock were exchanged, compared to its average volume of 1,733,113. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.60 and a beta of 1.28. The company’s 50-day moving average is $140.60 and its 200-day moving average is $138.90. PPG Industries has a 52-week low of $120.32 and a 52-week high of $152.89.
PPG Industries (NYSE:PPG – Get Free Report) last announced its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 earnings per share. Analysts expect that PPG Industries will post 8.46 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on PPG Industries
Insider Buying and Selling at PPG Industries
In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.
Institutional Trading of PPG Industries
Several large investors have recently made changes to their positions in PPG. Quarry LP acquired a new position in PPG Industries during the second quarter valued at approximately $29,000. Harbour Investments Inc. raised its holdings in PPG Industries by 84.9% in the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 101 shares during the period. Clear Street Markets LLC acquired a new position in PPG Industries during the 4th quarter worth $30,000. Parkside Financial Bank & Trust boosted its stake in PPG Industries by 45.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $42,000. Institutional investors own 81.86% of the company’s stock.
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.
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