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

NYSE

Website

www.ppg.com

CEO

Michael McGarry

Incorporated

Pennsylvania

Location

Pennsylvania

Fiscal year end

Dec 31

Sector

Manufacturing > Paint and Coating Manufacturing

Industry (SIC)

Paints, Varnishes, Lacquers, Enamels & Allied Prods

Axalta Coating Systems • RPM International • Ferro ...

Former names

PITTSBURGH PLATE GLASS CO

SEC CIK

0000079879

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

From Benzinga Pro

If You Invested $100 In This Stock 15 Years Ago, You Would Have $300 Today

3 Aug 22

PPG Indus (NYSE:PPG) has outperformed the market over the past 15 years by 1.55% on an annualized basis producing an average annual return of 8.78%. Currently, PPG Indus has a market capitalization of $29.76 billion.

Is RPM International Shifting Into High Gear?

26 Jul 22

RPM International Leans Into Price Increases For Record Results RPM International (NYSE: RPM) reported a mixed quarter but gave favorable guidance that should help lift share prices over the next few months.

Peering Into PPG Indus's Recent Short Interest

25 Jul 22

PPG Indus's (NYSE:PPG) short percent of float has risen 20.83% since its last report. The company recently reported that it has 2.73 million shares sold short, which is 1.16% of all regular shares that are available for trading.

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

From Benzinga Pro

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

New York, United States, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Water-borne coatings are surface coatings that employ water as a solvent, which is dispersed with resin to generate a coating. This coating is an

PPG appoints Brad Budde as vice president and chief digital officer

18 Aug 22

PPG (NYSE:PPG) today announced the appointment of Brad Budde as vice president and chief digital officer, effective Sept. 6. Reporting directly to Irene Tasi, chief growth officer, Budde will lead the company's digital

Introducing Vining Ivy: GLIDDEN Paint by PPG's 'bluish, greenish' 2023 Color of the Year

16 Aug 22

It is absolutely, positively blue…and green. Either way, it's a total vibe. PPG (NYSE:PPG) today announced that GLIDDEN™ paint by PPG asked consumers to call it like THEY see it with the announcement of the 2023

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

Last 3 months

Average target

$146.29

Low target

$115.00

High target

$163.00

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

22 Jul 22

18 Aug 22

31 Dec 22

Financial summary

Financial statements Chart PPG financial data

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

Financial data from company earnings reports.

Recent insider trades

PPG insider ownership history Insider history

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

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q2 2022

PPG institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

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.