PPG Industries (NYSE:PPG) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of PPG Industries (NYSE:PPG) from a hold rating to a buy rating in a research report released on Tuesday morning.

A number of other equities research analysts have also recently commented on the stock. UBS Group cut their price target on shares of PPG Industries from $156.00 to $150.00 and set a neutral rating on the stock in a report on Friday, April 19th. Barclays cut their price target on shares of PPG Industries from $149.00 to $148.00 and set an equal weight rating on the stock in a report on Monday, April 22nd. Wolfe Research began coverage on shares of PPG Industries in a report on Friday, March 1st. They set a peer perform rating on the stock. Robert W. Baird reiterated an outperform rating and set a $150.00 price target on shares of PPG Industries in a report on Friday, January 19th. Finally, Royal Bank of Canada cut their price target on shares of PPG Industries from $156.00 to $141.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $155.47.

PPG Industries Price Performance

Shares of PPG opened at $129.00 on Tuesday. The stock has a market cap of $30.25 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. PPG Industries has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm’s 50-day simple moving average is $138.84 and its two-hundred day simple moving average is $138.97.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Analysts anticipate that PPG Industries will post 8.45 earnings per share for the current fiscal year.

PPG Industries declared that its board has authorized a stock buyback program on Thursday, April 18th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 2.02%. PPG Industries’s payout ratio is presently 43.92%.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Valued Wealth Advisors LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $26,000. Private Wealth Management Group LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $27,000. SJS Investment Consulting Inc. grew its stake in PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares in the last quarter. CVA Family Office LLC purchased a new position in PPG Industries during the fourth quarter valued at $28,000. Finally, Richardson Financial Services Inc. purchased a new position in PPG Industries during the fourth quarter valued at $29,000. 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.