PPG, whose paint brands include Glidden and Olympic, offered to pay all of AkzoNobel for 54.00 euros in cash ($57) and 0.3 PPG shares per AkzoNobel share, totaling about 83.00 euros ($87.60) per share as of February 28.
The liquidity measure in recent quarter results of the company was recorded 1.50 as current ratio, on the other side the debt to equity ratio was 0.01.92, and long-term debt to equity ratio remained 0.01.92. SevenBridge Financial Group LLC now owns 1,852 shares of the company's stock valued at $171,000 after buying an additional 1,636 shares during the last quarter. RBC Capital Markets restated a "hold" rating and issued a $101.00 price target on shares of PPG Industries in a research report on Wednesday, January 4th.
Almost 74K chickens to be euthanized after testing positive for bird flu
The company said that it doesn't expect its chicken business to be disrupted, but the outbreak sent jitters through Wall Street. The Tennessee chicken farm is under quarantine, along with approximately 30 other poultry farms within a 6-mile radius of it.
Based on the latest brokerage notes which have been released to investors, 6 brokers have issued a rating of "strong buy", 8 brokers "buy", 8 brokers "neutral", 0 brokers "sell" and 0 brokers "strong sell". The firm's 50-day moving average is $96.39 and its 200 day moving average is $100.05. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $117.00. Over the last six months, PPG Industries, Inc.'s stock has been 0.08% and 6.91% for the year. Profit margins are at 5.90% while the operating margin stands at 5.70%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. Equities analysts anticipate that PPG Industries will post $5.90 earnings per share for the current fiscal year.
PPG Industries, Inc. manufactures and distributes a range of coatings and specialty materials. The company will now concentrate on decorative paints and performance coatings and expand their leading market positions. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses.