PPG Industries, Inc. (PPG) – What Are Analysts Saying About This Stock?

PPG Industries, Inc. (NYSE:PPG) has received an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $128.29.

PPG has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Citigroup raised their price objective on shares of PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. KeyCorp lifted their price objective on shares of PPG Industries from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group reiterated a “buy” rating and set a $128.00 target price on shares of PPG Industries in a research note on Friday, October 9th. Finally, Wells Fargo & Company increased their target price on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 29th.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $124.89 on Tuesday. The business has a 50-day simple moving average of $109.00 and a 200-day simple moving average of $112.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries has a one year low of $93.39 and a one year high of $133.43. The company has a market cap of $27.76 billion, a PE ratio of 15.15, a P/E/G ratio of 2.17 and a beta of 1.06.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 21.10%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the company earned $2.13 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that PPG Industries will post 7.98 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. PPG Industries’s dividend payout ratio (DPR) is presently 42.29%.

Institutional Trading of PPG Industries

Several institutional investors have recently modified their holdings of PPG. Bank of Nova Scotia acquired a new stake in PPG Industries during the second quarter worth about $2,850,000. Legal & General Group Plc acquired a new position in shares of PPG Industries in the 2nd quarter valued at about $169,096,000. Bank of America Corp DE acquired a new position in shares of PPG Industries in the 2nd quarter valued at about $278,965,000. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of PPG Industries by 38.8% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 46,861 shares of the specialty chemicals company’s stock worth $5,684,000 after purchasing an additional 13,101 shares during the period. Finally, Glenview Trust Co purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $1,931,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.