PPG Industries (NYSE:PPG) Price Target Lowered to $150.00 at UBS Group

PPG Industries (NYSE:PPG) had its target price trimmed by UBS Group from $156.00 to $150.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

Several other research analysts have also issued reports on PPG. Robert W. Baird reissued an outperform rating and set a $150.00 target price on shares of PPG Industries in a research note on Friday, January 19th. Wolfe Research started coverage on shares of PPG Industries in a research note on Friday, March 1st. They set a peer perform rating on the stock. Barclays lowered shares of PPG Industries from an overweight rating to an equal weight rating and cut their target price for the stock from $163.00 to $149.00 in a research note on Tuesday, February 27th. Citigroup dropped their price objective on shares of PPG Industries from $170.00 to $161.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised shares of PPG Industries from an equal weight rating to an overweight rating and raised their price objective for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $158.00.

PPG Industries Trading Down 3.1 %

Shares of NYSE PPG opened at $130.92 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries has a 52-week low of $120.32 and a 52-week high of $152.89. The firm has a 50 day moving average price of $140.36 and a two-hundred day moving average price of $138.88. The stock has a market cap of $30.81 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the company posted $1.82 earnings per share. PPG Industries’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that PPG Industries will post 8.46 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.99%. PPG Industries’s payout ratio is 43.92%.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management bought a new stake in PPG Industries during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $27,000. Finally, CVA Family Office LLC bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $28,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.