PPG Industries (NYSE:PPG – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 8.340-8.590 for the period, compared to the consensus estimate of 8.480. The company issued revenue guidance of -. PPG Industries also updated its FY24 guidance to $8.34-$8.59 EPS.
PPG Industries Stock Performance
PPG stock traded up $0.15 during trading on Thursday, hitting $135.11. 2,298,130 shares of the company’s stock traded hands, compared to its average volume of 1,733,392. The stock has a fifty day moving average price of $140.60 and a two-hundred day moving average price of $138.90. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. PPG Industries has a 52 week low of $120.32 and a 52 week high of $152.89. The stock has a market capitalization of $31.80 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28.
PPG Industries (NYSE:PPG – Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.86. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that PPG Industries will post 8.46 EPS for the current fiscal year.
Analyst Ratings Changes
View Our Latest Research Report on PPG Industries
Insiders Place Their Bets
In other news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.
Institutional Trading of PPG Industries
A number of large investors have recently added to or reduced their stakes in PPG. West Michigan Advisors LLC boosted its position in shares of PPG Industries by 3.4% in the 4th quarter. West Michigan Advisors LLC now owns 2,262 shares of the specialty chemicals company’s stock valued at $338,000 after purchasing an additional 74 shares during the period. Colony Group LLC boosted its holdings in shares of PPG Industries by 3.0% in the second quarter. Colony Group LLC now owns 2,540 shares of the specialty chemicals company’s stock worth $377,000 after buying an additional 74 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of PPG Industries by 0.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,009 shares of the specialty chemicals company’s stock worth $1,510,000 after acquiring an additional 79 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of PPG Industries by 0.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,581 shares of the specialty chemicals company’s stock valued at $1,569,000 after acquiring an additional 83 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 87 shares during the period. 81.86% of the stock is currently owned by institutional investors.
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.
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