FY2024 EPS Estimates for PPG Industries Decreased by Analyst

PPG Industries, Inc. (NYSE:PPG) – Stock analysts at Seaport Res Ptn dropped their FY2024 earnings estimates for shares of PPG Industries in a research note issued on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will earn $8.12 per share for the year, down from their prior forecast of $8.15. The consensus estimate for PPG Industries’ current full-year earnings is $8.15 per share. Seaport Res Ptn also issued estimates for PPG Industries’ Q4 2024 earnings at $1.61 EPS.

PPG has been the topic of a number of other research reports. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $149.23.

PPG Industries Price Performance

Shares of PPG stock opened at $122.94 on Thursday. The stock has a 50 day moving average price of $121.17 and a 200 day moving average price of $124.74. PPG Industries has a 52-week low of $113.00 and a 52-week high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market capitalization of $28.52 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.94 and a beta of 1.24.

Hedge Funds Weigh In On PPG Industries

Several hedge funds have recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new position in PPG Industries during the 3rd quarter worth approximately $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth about $40,000. Finally, Albion Financial Group UT purchased a new position in PPG Industries in the 4th quarter valued at about $38,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.21%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

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.