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Formerly called
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Pittsburgh Plate Glass Company (1883–1968) |
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Type
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Public |
Traded as |
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Industry | Chemicals |
Founded | 1883 (1883) Creighton, Pennsylvania, U.S. |
Founders |
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Headquarters | Pittsburgh, Pennsylvania, U.S. |
Area served
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Worldwide |
Key people
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Michael H. McGarry (Chairman & CEO) |
Products | Basic and industrial chemicals, decorative paints, industrial (re)finishing products, coatings |
Revenue | ![]() |
Operating income
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![]() |
Net income
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![]() |
Total assets | ![]() |
Total equity | ![]() |
Number of employees
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46,000 (2015) |
Website | www |
PPG Industries, Inc. is an American Fortune 500 company and global supplier of paints, coatings, specialty materials, and fiberglass. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. By revenue it is the largest coatings company in the world. It is headquartered in PPG Place, an office and retail complex in downtown Pittsburgh, and is known for its glass facade designed by Philip Johnson.
Pittsburgh Pits furnaces with locally produced [ on which rapidly stimulated widespread industrial use of the cleaner-burning fuel.
PPG expanded quickly. By 1900, known as the "Glass Trust", it included 10 plants, had a 65 percent share of the U.S. plate glass market, and had become the nation's second largest producer of paint. Today, known as PPG Industries, the company is a multibillion-dollar, Fortune 500 corporation with 150 manufacturing locations around the world. It now produces coatings, glass, fiberglass, and chemicals.
Pitcairn served as a director of PPG from its start, its president from 1897 to 1905, and chairman of the board from 1894 until his death.
On 19 December 1968 the company changed its name to PPG Industries, Inc., to show its diverse offerings. Ditzler Color Company, established in 1902 in Detroit as an automotive color concern, was purchased by Pittsburgh Plate Glass Company (now PPG) in 1928. In the mid-1980s, Cipisa, a Spanish paint company was acquired and renamed PPG Ibérica. The CEO of Cipisa, Pere Nadal Carres became CEO of PPG Ibérica. In 1990 PPG founded Transitions Optical as a joint venture with Essilor.
In October 2000, PPG Industries announced it had agreed to buy Courtaulds Aerospace for $512.5 million. Based in Glendale, California, the aerospace business has annual sales of approximately $US240 million, employs 1,200 people. It manufactures sealants in Glendale, California, US and Shildon, England; coatings and sealants in Mojave, California, US; glazing sealants at Gloucester City, New Jersey, US; and coatings at Gonfreville, France. The business also operates 14 application-support centres in North America, Europe, Africa, Asia and Australia.
In 2006, the company rolled out a two-tiered pay system which resulted in massive strikes at union locations across the country. The system, now in place company-wide for non-salaried employees, provides lower rates of pay and fewer benefits to those employed after the roll-out than those employed before the roll-out. In West Virginia, after a bitter five month strike, the company still refused to eliminate the two tiered system. In Lake Charles, LA, the employment contracts of union employees had to be extended during a strike regarding the two-tiered system.
In 2007, the company was involved in a lawsuit on failing to disclose a purchase reduction of its two major auto glass customers. On 2 January 2008, PPG acquired the SigmaKalon Group of companies for $3.2 billion from private investment firm Bain Capital, strongly increasing its paint and specialty coatings business.
In 2008, PPG renamed their automotive glass division PGW (Pittsburgh Glass Works) and sold a majority of it to Kohlberg & Company. PPG retained 40% ownership of PGW until March 2016 when they sold their stake to automotive parts salvage company LKQ
In April 2013, PPG completed the acquisition of AkzoNobel North American architectural coatings business including Glidden, Liquid Nails, and Flood brands. 2013 revenue was US$15.1 billion, while assets were US$15.9 billion.
On April 1, 2014, PPG finalized the sale of Transitions Optical to its joint venture partner, Essilor International of France, however, PPG’s technical center in Monroeville will continue to provide research and development services for Transitions. On November 5, 2014 PPG closed a deal, to purchase Mexican Consorcio Comex, S.A. de C.V. (“Comex”) for $2.3 billion
In April 2015, PPG Industries completed the acquisition of REVOCOAT, a global supplier of sealants. Chuck Bunch remains Executive Chairman, while Michael McGarry serves as President & CEO.
In July 2016, PPG announced its sale of the flat glass business to Vitro, a glass manufacturer based in Mexico, for $750 million.
In October 2016, Pittsburgh Post-Gazette announced the acquisition of the naming rights to Consol Energy Center by PPG; the facility will be known as PPG Paints Arena.
In March 2017, the company launched an unsolicited takeover bid of €20.9 billion, which was promptly rejected by AkzoNobel’s management. Days later, the company launched an increased bid of €24.5 billion ($26.3 billion), which was again rejected by AkzoNobel’s management. A number of shareholders urged AkzoNobel to explore the offer and subsequent negotiations. In April, activist investor Elliot Investors called for the removal of the Chairman of Akzo, Antony Burgmans, following Akzo's refusal to enter talks with PPG. Elliott, which has a 3.25% stake in the company, claimed it was one of a group of investors that met the Dutch legal threshold of 10% voting-share support, which is needed to call an extraordinary meeting to vote on a proposal to remove Burgmans. On April 13, Templeton Global Equity said it was among another group of investors calling for an extraordinary meeting of AkzoNobel shareholders to discuss Burgmans' continued tenure as Chairman. Later in the same month Akzo outlined its plan to separate its chemicals division and pay shareholders €1.6 billion in extra dividends, in order to attempt to hold off PPG. The new Akzo strategy was dismissed by PPG, which claimed that their offer represented better value for shareholders, supported by activist Akzo shareholder Elliot Advisors. On April 24, a day before Akzo's annual meeting of shareholders, PPG increased its final offer by approximately 8% to $28.8 billion (€26.9 billion, €96.75 per share), with Akzo's share price rising 6% to a record of €82.95 per share. Akzo shareholder Columbia Threadneedle Investments urged the company to open dialogue with PPG, whilst PPG claimed that the deal would add to earning within its first year. Great Britain's largest pension scheme investors, Universities Superannuation Scheme (USS), urged Akzo to engage with PPG. On 2 May, Reuters revealed that the supervisory board of Azko was meeting to discuss how to deal with PPG's third offer, still maintaining it did not value the company highly enough. In early May, Akzo again rejected PPG's bid, citing the deal still undervalues the company, as well as potentially facing antitrust risks, and not addressing other concerns such as "cultural differences". Under Dutch company law, PPG must now decide to either make a formal bid or walk away. In early June PPG chose to abandon pursuit.
In November 2010, PPG agreed to remove 700,000 tons of toxic waste from Canal Crossing, a brownfield site in Jersey City, New Jersey where the company operated a chromium processing plant between 1954 and 1963. Stringent standards were agreed to in a federal court settlement.
Lime Lake Reclamation Project of PPG Industries in Barberton, Ohio, received special awards in the National Beneficial Use of Biosolids Program from Environmental Protection Agency’s (EPA) region 5 in 1998.
PPG has been involved in sports for numerous years, including being the primary sponsor for the CART Indy car series in the 1980s-1990s. It has also been an associate sponsor with the present day IndyCar Series, and in the Monster Energy NASCAR Cup Series. Since the race's inception in 1994, PPG has sponsored the trophy for the Brickyard 400.
On October 4, 2016, it was announced that The Consol Energy Center would be giving up its naming rights, and transferred to PPG, making the arena named the PPG Paints Arena.
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q3 2022 | 2022-10-18 | Future report Set alerts | |
Q2 2022 | 2022-07-21 | 1.81 | 1.81 |
Q1 2022 | 2022-04-21 | 1.37 | 1.37 |
Q4 2021 | 2022-01-20 | 1.26 | 1.26 |
Q3 2021 | 2021-10-20 | 1.69 | 1.69 |
Q2 2021 | 2021-07-19 | 1.94 | 1.94 |
Q1 2021 | 2021-04-15 | 1.88 | 1.88 |
Q4 2020 | 2021-01-21 | 1.59 | 1.59 |
Q3 2020 | 2020-10-19 | 1.93 | 1.93 |
Q2 2020 | 2020-07-16 | 0.99 | 0.99 |
2016-07-06 | Reiterated Rating | Jefferies Group | Buy | |
2016-06-23 | Upgrade | Longbow Research | Neutral to Buy | $130.00 |
2016-06-17 | Reiterated Rating | JPMorgan Chase & Co. | Buy | $120.00 |
2016-06-16 | Reiterated Rating | Morgan Stanley | Hold | |
2016-06-15 | Reiterated Rating | Credit Suisse | Buy | |
2016-06-15 | Reiterated Rating | Credit Suisse Group AG | Buy | |
2016-04-18 | Boost Price Target | Citigroup Inc. | Buy | $120.00 to $131.00 |
2016-03-24 | Reiterated Rating | Deutsche Bank | Buy | |
2016-03-24 | Reiterated Rating | Deutsche Bank AG | Buy | |
2016-03-22 | Reiterated Rating | Credit Suisse | Outperform | $102.00 to $115.00 |
2016-02-11 | Lower Price Target | Credit Suisse | Outperform | $102.00 to $91.34 |
2016-01-24 | Reiterated Rating | Barclays | Hold | |
2016-01-24 | Reiterated Rating | Barclays PLC | Hold | |
2016-01-22 | Lower Price Target | Barclays | Equal Weight | $115.00 to $110.00 |
2016-01-21 | Lower Price Target | Deutsche Bank | Buy | $110.00 to $105.00 |
2016-01-05 | Boost Price Target | Citigroup Inc. | $108.00 to $120.00 | |
2016-01-05 | Initiated Coverage | Seaport Global Securities | Accumulate | $115.00 to $115.00 |
2015-11-25 | Boost Price Target | RBC Capital | Outperform | $115.00 to $129.00 |
2015-11-25 | Boost Price Target | Royal Bank Of Canada | Outperform | $115.00 to $129.00 |
2015-10-21 | Boost Price Target | Susquehanna | Positive | $110.00 to $116.00 |
2015-10-17 | Reiterated Rating | Barclays | Hold | |
2015-10-16 | Lower Price Target | JPMorgan Chase & Co. | Overweight | $120.00 to $110.00 |
2015-10-16 | Reiterated Rating | Barclays | Equal Weight | $120.00 to $115.00 |
2015-10-12 | Upgrade | Goldman Sachs | Neutral to Buy | $107.00 to $113.00 |
2015-10-12 | Upgrade | Goldman Sachs Group Inc. | Neutral to Buy | $107.00 to $113.00 |
2015-09-23 | Reiterated Rating | Jefferies Group | Buy | |
2015-09-22 | Lower Price Target | Susquehanna | Positive | $133.00 to $110.00 |
2015-09-15 | Reiterated Rating | RBC Capital | Buy | |
2015-09-14 | Lower Price Target | RBC Capital | Outperform | $126.00 to $115.00 |
2015-09-08 | Lower Price Target | RBC Capital | Outperform | $145.00 to $126.00 |
2015-09-06 | Reiterated Rating | Deutsche Bank | Buy | |
2015-07-20 | Boost Price Target | JPMorgan Chase & Co. | Overweight | $118.00 to $120.00 |
2015-07-09 | Reiterated Rating | Deutsche Bank | Buy | $255.00 to $129.00 |
2015-06-26 | Reiterated Rating | Jefferies Group | Buy | $130.00 to $135.00 |
2015-04-17 | Reiterated Rating | Deutsche Bank | Buy | $255.00 to $250.00 |
2015-02-04 | Initiated Coverage | Morgan Stanley | Equal Weight | $224.00 |
2015-01-20 | Lower Price Target | Citigroup Inc. | Buy | $266.00 to $262.00 |
2015-01-16 | Boost Price Target | Argus | Buy | $238.00 to $271.00 |
2015-01-16 | Reiterated Rating | Deutsche Bank | Buy | $250.00 to $215.00 |
2014-12-18 | Boost Price Target | Jefferies Group | BUY | $240.00 to $260.00 |
2014-11-21 | Boost Price Target | Credit Suisse | Outperform | $235.00 to $245.00 |
2014-10-29 | Reiterated Rating | Barclays | Equal Weight | $230.00 to $215.00 |
2014-10-20 | Upgrade | SunTrust | Neutral to Buy | $215.00 to $225.00 |
2014-10-20 | Upgrade | SunTrust Banks Inc. | Neutral to Buy | $215.00 to $225.00 |
2014-10-17 | Reiterated | RBC Capital Mkts | Outperform | $250 to $243 |
2014-10-17 | Reiterated Rating | Deutsche Bank | Buy | $235.00 to $215.00 |
2014-10-17 | Reiterated Rating | Citigroup Inc. | Buy | $229.00 to $216.00 |
2014-10-17 | Lower Price Target | RBC Capital | Outperform | $250.00 to $243.00 |
2014-10-08 | Initiated Coverage | RBC Capital | Outperform | $250.00 |
2014-07-18 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $225.00 to $230.00 |
2014-07-18 | Reiterated Rating | Deutsche Bank | Buy | $235.00 |
2014-07-18 | Reiterated Rating | Bank of America | Buy | $218.00 to $223.00 |
2014-07-18 | Boost Price Target | Barclays | Equal Weight | $220.00 to $230.00 |
2014-07-18 | Reiterated Rating | Bank of America Corp. | Buy | $218.00 to $223.00 |
2014-07-01 | Boost Price Target | Robert W. Baird | $215.00 to $225.00 | |
2014-07-01 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $208.00 to $225.00 |
2014-07-01 | Reiterated Rating | Deutsche Bank | Buy | $220.00 to $235.00 |
2014-06-06 | Boost Price Target | Jefferies Group | Buy | $228.00 to $240.00 |
2014-04-25 | Boost Price Target | Argus | Buy | $216.00 to $224.00 |
2014-04-22 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $208.00 |
2014-04-21 | Reiterated Rating | Jefferies Group | Buy | $228.00 |
2014-04-21 | Reiterated Rating | Deutsche Bank | Buy | $213.00 to $220.00 |
2014-04-09 | Reiterated Rating | Citigroup Inc. | Buy | $224.00 to $220.00 |
2014-03-19 | Boost Price Target | Northcoast Research | $200.00 to $215.00 | |
2014-03-19 | Initiated Coverage | Morgan Stanley | Overweight | $42.00 to $46.00 |
2014-01-17 | Boost Price Target | JPMorgan Chase & Co. | $197.00 | |
2014-01-17 | Boost Price Target | Robert W. Baird | $200.00 to $215.00 | |
2013-12-06 | Reiterated Rating | Deutsche Bank | Buy | $195.00 to $210.00 |
2013-10-23 | Boost Price Target | RBC Capital | Outperform | $176.00 to $205.00 |
2013-10-22 | Boost Price Target | Susquehanna | Positive | $185.00 to $205.00 |
2013-10-18 | Boost Price Target | Robert W. Baird | Outperform | $175.00 to $200.00 |
2013-10-18 | Boost Price Target | Deutsche Bank | Buy | $180.00 to $195.00 |
2013-10-16 | Boost Price Target | Jefferies Group | Buy | $185.00 to $200.00 |
2012-06-22 | Initiated | Robert W. Baird | Outperform | $120 |
2011-09-30 | Resumed | KeyBanc Capital Mkts | Hold |
2016-07-06 | Reiterated Rating | Jefferies Group | Buy | |
2016-06-23 | Upgrade | Longbow Research | Neutral to Buy | $130.00 |
2016-06-17 | Reiterated Rating | JPMorgan Chase & Co. | Buy | $120.00 |
2016-06-16 | Reiterated Rating | Morgan Stanley | Hold | |
2016-06-15 | Reiterated Rating | Credit Suisse | Buy |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In PPG 636 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
Vanguard Group, Inc | 20.47M |
BlackRock Inc. | 20.40M |
JPMORGAN CHASE & CO | 16.91M |
WELLINGTON MANAGEMENT CO LLP | 15.75M |
STATE STREET CORP | 11.27M |
BlackRock Institutional Trust Company, N.A. | 7.09M |
Clearbridge Investments, LLC | 5.36M |
GEODE CAPITAL MANAGEMENT, LLC | 4.63M |
BlackRock Fund Advisors | 3.83M |
WELLS FARGO & CO/MN | 3.59M |
BANK OF AMERICA CORP /DE/ | 3.44M |
THOMASPARTNERS, INC. | 3.11M |
AMERIPRISE FINANCIAL INC | 3.06M |
Nuveen Asset Management, LLC | 2.99M |
PUTNAM INVESTMENTS LLC | 2.53M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
BUNCH CHARLES E Chairman and CEO | 0.53% (732911) | COP / MDLZ / MPC / PNC / PPG / |
MCGARRY MICHAEL H Executive Vice President | 0.07% (95023) | AXLL / PPG / |
NIEKAMP CYNTHIA A Sr. VP, Automotive Coatings | 0.05% (62713) | BLL / CTB / PPG / |
BOST GLENN E II Sr. VP & Gen. Counsel | 0.02% (33509) | PPG / |
NAVIKAS DAVID B Sr. VP Strat Plan & Corp Dev | 0.02% (28793) | PPG / |
Sklarsky Frank S Executive VP & CFO | 0.02% (26624) | HAR / PPG / |
RICHENHAGEN MARTIN | 0.02% (23064) | AGCO / PPG / PX / |
GREINDL JEAN-MARIE Sr. VP, Arch Ctgs & Pres EMEA | 0.02% (22385) | PPG / |
RAMAPRASAD VADLAMANNATI Sr. VP, Protect. & Marine Ctgs | 0.02% (21484) | PPG / |
HOOPER MICHELE J | 0.01% (17840) | PPG / UNH / |
SEKMAKAS VIKTORAS R Executive Vice President | 0.01% (15545) | PPG / |
Morales Vincent J Senior VP & CFO | 0.01% (11420) | PPG / |
KNAVISH TIMOTHY M Sr. VP, Automotive Coatings | 0.01% (10477) | PPG / |