PPG Industries, Inc. (NYSE:PPG) Receives $149.29 Consensus Target Price from Brokerages

PPG Industries, Inc. (NYSE:PPG) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $149.29.

Several research firms have recently issued reports on PPG. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

Institutional Trading of PPG Industries

A number of institutional investors and hedge funds have recently made changes to their positions in PPG. LRI Investments LLC grew its stake in PPG Industries by 463.8% in the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the period. Wedgewood Investors Inc. PA purchased a new stake in shares of PPG Industries during the second quarter worth about $566,000. State of Michigan Retirement System increased its stake in shares of PPG Industries by 4.3% during the second quarter. State of Michigan Retirement System now owns 67,443 shares of the specialty chemicals company’s stock worth $8,490,000 after purchasing an additional 2,800 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in PPG Industries in the 2nd quarter valued at about $231,000. Finally, Financial Connections Group Inc. acquired a new stake in PPG Industries in the 2nd quarter worth about $25,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.7 %

NYSE:PPG opened at $120.98 on Friday. The stock has a market capitalization of $28.07 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.90 and a beta of 1.24. PPG Industries has a 52 week low of $118.07 and a 52 week high of $150.82. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $124.64 and a 200 day moving average of $126.03.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that PPG Industries will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

About PPG Industries

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.