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
Industry (SIC)
Former names
PITTSBURGH PLATE GLASS CO
SEC CIK
Corporate docs
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
News

If You Invested $100 In This Stock 15 Years Ago, You Would Have $300 Today
3 Aug 22
Is RPM International Shifting Into High Gear?
26 Jul 22
Peering Into PPG Indus's Recent Short Interest
25 Jul 22
Mizuho Maintains Buy on PPG Indus, Raises Price Target to $163
25 Jul 22
Wells Fargo Maintains Equal-Weight on PPG Indus, Raises Price Target to $135
25 Jul 22
Press releases
Water-Borne Coatings Market Size is projected to reach USD 123 Billion by 2030, growing at a CAGR of 5.2%: Straits Research
18 Aug 22
PPG appoints Brad Budde as vice president and chief digital officer
18 Aug 22
Introducing Vining Ivy: GLIDDEN Paint by PPG's 'bluish, greenish' 2023 Color of the Year
16 Aug 22
PPG chairman and CEO joins Disability:IN effort to advance disability inclusion
11 Aug 22
PPG announces PPG INNOVEL PRO technology, an upgrade to its non-bisphenol beverage can coating
1 Aug 22
Analyst ratings and price targets
Current price
Average target
$146.29
Low target
$115.00
High target
$163.00
Mizuho
Maintains
$163.00
Wells Fargo
Maintains
$135.00
Deutsche Bank
Maintains
$150.00
B of A Securities
Maintains
$161.00
UBS
Maintains
$161.00
Vertical Research
Upgraded
$139.00
Credit Suisse
Initiated
$115.00
Investment data
Securities sold
Number of investors
Calendar
22 Jul 22
18 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Operating income | |||||
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Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q2 2022
79.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 884 |
Opened positions | 65 |
Closed positions | 122 |
Increased positions | 314 |
Reduced positions | 308 |
13F shares | Current |
---|---|
Total value | 21.31B |
Total shares | 185.86M |
Total puts | 706.46K |
Total calls | 948.51K |
Total put/call ratio | 0.7 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 20.67M | $2.36B |
Vanguard | 20.4M | $2.33B |
JPM JPMorgan Chase & Co. | 17.31M | $1.98B |
Wellington Management | 15.7M | $1.8B |
Massachusetts Financial Services | 15.43M | $1.76B |
STT State Street | 11.68M | $1.34B |
Clearbridge Advisors | 5.35M | $611.35M |
Geode Capital Management | 4.54M | $518.36M |
WFC Wells Fargo & Co. | 3.57M | $407.67M |
BAC Bank Of America | 3.22M | $368.35M |
Financial report summary
?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
?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
Financial reports
Current reports
8-K
PPG reports second quarter 2022 financial results
21 Jul 22
8-K
Other Events
15 Jul 22
8-K
Entry into a Material Definitive Agreement
25 May 22
8-K
Entry into a Material Definitive Agreement
19 May 22
8-K
Amendments to Articles of Incorporation or Bylaws
13 May 22
8-K
Departure of Directors or Certain Officers
27 Apr 22
8-K
PPG reports first quarter 2022 financial results
21 Apr 22
8-K
PPG reports fourth quarter and full-year 2021 financial results
20 Jan 22
8-K
Other Events
4 Jan 22
8-K
PPG appoints Tim Knavish chief operating officer
15 Dec 21
Registration and prospectus
S-3
Shelf registration
28 Jul 22
RW
Registration withdrawal request
26 Jul 22
S-3ASR
Automatic shelf registration
22 Jul 22
8-A12B
Registration of securities on exchange
25 May 22
424B2
Prospectus for primary offering
19 May 22
FWP
Free writing prospectus
18 May 22
424B5
Prospectus supplement for primary offering
18 May 22
25-NSE
Exchange delisting
5 Jan 22
S-8
Registration of securities for employees
28 Jul 21
S-8
Registration of securities for employees
28 Jul 21
Proxies
DEFA14A
Additional proxy soliciting materials
21 Apr 22
DEFA14A
Additional proxy soliciting materials
14 Apr 22
DEFA14A
Additional proxy soliciting materials
11 Apr 22
DEFA14A
Additional proxy soliciting materials
4 Apr 22
PX14A6G
Letter to shareholders
28 Mar 22
DEFA14A
Additional proxy soliciting materials
23 Mar 22
DEFA14A
Additional proxy soliciting materials
10 Mar 22
DEF 14A
Definitive proxy
10 Mar 22
PRE 14A
Preliminary proxy
18 Feb 22
DEFA14A
Additional proxy soliciting materials
22 Mar 21
Other
EFFECT
Notice of effectiveness
4 Aug 22
SD
Conflict minerals disclosure
31 May 22
CERT
Certification of approval for exchange listing
27 May 22
SD
Conflict minerals disclosure
28 May 21
SD
Conflict minerals disclosure
29 May 20
EFFECT
Notice of effectiveness
2 Mar 20
SD
Conflict minerals disclosure
31 May 19
UPLOAD
Letter from SEC
10 Oct 18
SD
Conflict minerals disclosure
31 May 18
SD
Conflict minerals disclosure
30 May 17
Ownership
4
PPG INDUSTRIES / Vincent J Morales ownership change
17 Aug 22
4
PPG INDUSTRIES / MICHAEL H MCGARRY ownership change
17 Aug 22
4
PPG INDUSTRIES / Rebecca B. Liebert ownership change
17 Aug 22
4
PPG INDUSTRIES / TIMOTHY M KNAVISH ownership change
17 Aug 22
4
PPG INDUSTRIES / Anne M. Foulkes ownership change
17 Aug 22
4
PPG INDUSTRIES / Vincent J Morales ownership change
1 Aug 22
4
PPG INDUSTRIES / MICHAEL H MCGARRY ownership change
1 Aug 22
4
PPG INDUSTRIES / Rebecca B. Liebert ownership change
1 Aug 22
4
PPG INDUSTRIES / TIMOTHY M KNAVISH ownership change
1 Aug 22
4
PPG INDUSTRIES / Anne M. Foulkes ownership change
1 Aug 22
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.
Transcripts
2022 Q2
Earnings call transcript
22 Jul 22
2022 Q1
Earnings call transcript
22 Apr 22
2021 Q4
Earnings call transcript
21 Jan 22
2021 Q3
Earnings call transcript
21 Oct 21
2021 Q2
Earnings call transcript
20 Jul 21
2021 Q1
Earnings call transcript
16 Apr 21
2020 Q4
Earnings call transcript
22 Jan 21
2020 Q3
Earnings call transcript
20 Oct 20
2020 Q2
Earnings call transcript
17 Jul 20
2020 Q1
Earnings call transcript
28 Apr 20
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