PPG Industries (NYSE:PPG – Get Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.420-2.520 for the period, compared to the consensus earnings per share estimate of 2.550. The company issued revenue guidance of -. PPG Industries also updated its FY 2024 guidance to 8.340-8.590 EPS.
PPG Industries Stock Up 0.1 %
Shares of NYSE PPG traded up $0.15 on Thursday, reaching $135.11. 2,298,130 shares of the company’s stock traded hands, compared to its average volume of 1,733,392. The business’s 50 day simple moving average is $140.60 and its two-hundred day simple moving average is $138.90. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a market cap 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. 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 (NYSE:PPG – Get Free Report) last released 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. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.82 EPS. As a group, equities research analysts forecast that PPG Industries will post 8.46 EPS for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Stock Report on PPG Industries
Insiders Place Their Bets
In other 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 directly owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On PPG Industries
Several institutional investors and hedge funds have recently modified their holdings of PPG. Vontobel Holding Ltd. grew its stake in PPG Industries by 51.9% during the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after acquiring an additional 2,048 shares in the last quarter. Sei Investments Co. grew its position in shares of PPG Industries by 14.7% during the first quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after purchasing an additional 3,025 shares in the last quarter. Prudential PLC bought a new stake in shares of PPG Industries in the first quarter worth about $619,000. Vanguard Group Inc. lifted its position in shares of PPG Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after buying an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in PPG Industries by 7.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after buying an additional 1,283 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than PPG Industries
- What is the NASDAQ Stock Exchange?
- Comprehensive PepsiCo Stock Analysis
- How to Calculate Stock Profit
- CSX Co.: The Railroad Powering Ahead with an Earnings Beat
- What is MarketRankā¢? How to Use it
- 3 Steel Stocks Could Soar on New China Tariffs
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.