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PPG Industries (PPG)

PPG works every day to develop and deliver the paints, coatings and materials that its customers have trusted for more than 135 years. Through dedication and creativity, it solves its customers' biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, it operates and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. It serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.

Company profile

Ticker
PPG
Exchange
Website
CEO
Michael McGarry
Employees
Incorporated
Location
Fiscal year end
Former names
PITTSBURGH PLATE GLASS CO
SEC CIK
Subsidiaries
AIPCF V Texstars Blocker Inc. • Alpha Coating Technologies, LLC • Alpha Coatings, Inc. • CG Holdings Manufacturing Co. • Cuming Microwave Corporation • Dexmet Corporation • Dexmet Holding Corporation • Eberle Design, Inc. • Ennis Canadian Holding Company • Ennis Paint Netherlands Holdings, LLC ...
IRS number
250730780

PPG stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

22 Jul 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 931M 931M 931M 931M 931M 931M
Cash burn (monthly) 9.67M 22M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 15.93M 36.26M n/a n/a n/a n/a
Cash remaining 915.07M 894.74M n/a n/a n/a n/a
Runway (months of cash) 94.7 40.7 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Aug 22 Anne M. Foulkes Phantom Stock Units Common Stock Grant Acquire A No No 136.39 9.899 1.35K 417.921
15 Aug 22 Timothy M Knavish Phantom Stock Units Common Stock Grant Acquire A No No 136.39 3.989 544.11 9,985.26
15 Aug 22 Rebecca B. Liebert Phantom Stock Units Common Stock Grant Acquire A No No 136.39 10.878 1.48K 807.442
15 Aug 22 Michael H Mcgarry Phantom Stock Units Common Stock Grant Acquire A No No 136.39 19.393 2.65K 4,967.128
15 Aug 22 Vincent J Morales Phantom Stock Units Common Stock Grant Acquire A No No 136.39 4.64 632.82 9,754.893
79.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 884 941 -6.1%
Opened positions 65 68 -4.4%
Closed positions 122 155 -21.3%
Increased positions 314 332 -5.4%
Reduced positions 308 344 -10.5%
13F shares Current Prev Q Change
Total value 21.31B 24.47B -12.9%
Total shares 185.86M 188.49M -1.4%
Total puts 706.46K 360.45K +96.0%
Total calls 948.51K 573.71K +65.3%
Total put/call ratio 0.7 0.6 +18.5%
Largest owners Shares Value Change
BLK Blackrock 20.67M $2.36B -1.7%
Vanguard 20.4M $2.33B +1.1%
JPM JPMorgan Chase & Co. 17.31M $1.98B +12.8%
Wellington Management 15.7M $1.8B +17.2%
Massachusetts Financial Services 15.43M $1.76B -0.5%
STT State Street 11.68M $1.34B +2.5%
Clearbridge Advisors 5.35M $611.35M +1.5%
Geode Capital Management 4.54M $518.36M +0.7%
WFC Wells Fargo & Co. 3.57M $407.67M -1.4%
BAC Bank Of America 3.22M $368.35M +7.9%
Largest transactions Shares Bought/sold Change
Wellington Management 15.7M +2.31M +17.2%
LGEN Legal & General 0 -2.16M EXIT
JPM JPMorgan Chase & Co. 17.31M +1.96M +12.8%
CFS Investment Advisory Services 11.4K -1.72M -99.3%
Fiduciary Management 0 -1.69M EXIT
First Trust Advisors 602.63K -1.13M -65.3%
Charles Schwab Investment Management 2.19M -1.01M -31.5%
Nuveen Asset Management 2.97M +839.1K +39.3%
MS Morgan Stanley 2.05M +768.93K +60.2%
Citadel Advisors 5.94K -700.34K -99.2%

Financial report summary

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Risks
  • The effects of COVID-19 have negatively impacted and are continuing to adversely impact our financial condition and results of operations.
  • Increases in prices and declines in the availability of raw materials could negatively impact our financial results.
  • The pace of economic growth and level of uncertainty could have a negative impact on our results of operations and cash flows.
  • Fluctuations in foreign currency exchange rates could affect our financial results.
  • The industries in which we operate are highly competitive.
  • We are subject to existing and evolving standards relating to the protection of the environment.
  • We are involved in a number of lawsuits and claims, and we may be involved in future lawsuits and claims, in which substantial monetary damages are sought.
  • We are subject to a variety of complex U.S. and non-U.S. laws and regulations, which could increase our compliance costs and could adversely affect our results of operations.
  • Changes in the tax regimes and related government policies and regulations in the countries in which we operate could adversely affect our results and our effective tax rate.
  • Our international operations expose us to additional risks and uncertainties that could affect our financial results.
  • Business disruptions could have a negative impact on our results of operations and financial condition.
  • Integrating acquired businesses into our existing operations.
  • Our ability to understand our customers’ specific preferences and requirements, and to innovate, develop, produce and market products that meet customer demand is critical to our business results.
  • In 2018, we concluded that previously issued financial statements as detailed below should not be relied upon and restated those previously issued financial statements, which led to, among other things, shareholder litigation, investigations by the SEC and the U.S. Attorney’s office, a settlement by the Company with the SEC and unanticipated costs for accounting and legal fees, and which may result in certain other risks.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Net sales were approximately $4.7 billion for the three months ended June 30, 2022, an increase of 7.6% compared to the prior year, driven by higher selling prices and acquisition-related sales partially offset by lower sales volumes and unfavorable foreign currency translation impacts. The Company increased net sales despite softer demand conditions in Europe due to geopolitical issues, extended COVID-19 restrictions in China, and strong appreciation of the U.S. dollar versus many foreign currencies.
  • Income before income taxes was $566 million for the three months ended June 30, 2022, a decrease of $27 million compared to the prior year. This decrease was largely due to raw material and other cost inflation, lower sales volumes and unfavorable foreign currency translation impact. These impacts were partially offset by higher selling prices and income of $60 million recorded due to the collection of previously reserved trade receivables and the recovery of previously written-down inventories associated with the wind down of the Company’s operations in Russia.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: broader, component, downturn, easier, mitigation, people, withdrawal
Removed: Cetelon, historically, initiated, Mexican, peso, repurchased, secured, sequentially, VersaFlex

Patents

Utility
Coated conduits and methods of repairing or reinforcing conduits
16 Aug 22
The present invention is directed to a coated conduit comprising: a) a conduit having an interior and exterior surface; and b) a cured coating formed from a reaction mixture that is applied to at least one surface of the conduit.
Utility
Methods for Manufacturing Wind Turbine Blades and Leading Edge Protection Surfaces
11 Aug 22
Methods of fabricating wind turbine blades, leading edge protection surfaces of wind turbine blades and wind turbine protection shields using coreactive additive manufacturing.
Utility
Permanganate based conversion coating compositions
9 Aug 22
A composition for application to a substrate comprising a carrier, a permanganate ion source, and a corrosion inhibitor comprising a rare earth ion, an alkali metal ion, an alkaline earth metal ion, and/or a transition metal ion is disclosed.
Utility
Curable film-forming compositions demonstrating increased wet-edge time
9 Aug 22
The present invention is directed to a curable film-forming composition comprising: (a) a curing agent comprising reactive isocyanate functional groups; (b) a film-forming compound comprising functional groups reactive with the reactive isocyanate functional groups in (a); (c) a photo-latent catalyst; (d) a beta-diketone having a flash point higher than 60 C (140 F); and (e) a beta-diketone having a flash point lower than or equal to 60 C (140 F).
Utility
Insulating Coating Composition
28 Jul 22
The present invention relates to an insulating coating composition, a substrate coated with such insulating coating composition and a method for protecting a substrate by using the insulating coating composition.