PPG Industries, Inc. (NYSE:PPG) Receives $149.29 Average PT from Brokerages

by · The Markets Daily

PPG Industries, Inc. (NYSE:PPG – Get Free Report) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $149.29.

A number of analysts have recently issued reports on PPG shares. JPMorgan Chase & Co. dropped their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Mizuho lowered their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th.

Check Out Our Latest Stock Analysis on PPG

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Financial Connections Group Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at about $25,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries during the third quarter valued at approximately $34,000. Rothschild Investment LLC purchased a new position in PPG Industries in the 2nd quarter worth approximately $37,000. Finally, Hara Capital LLC bought a new position in PPG Industries in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $120.38 on Friday. PPG Industries has a 1-year low of $118.07 and a 1-year high of $150.82. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $27.93 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The firm’s 50 day simple moving average is $124.04 and its 200 day simple moving average is $125.91.

PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. As a group, analysts expect that PPG Industries will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. PPG Industries’s dividend payout ratio is 43.11%.

PPG Industries Company Profile

(Get Free Report

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.

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