PPG Industries (NYSE:PPG) Stock Rating Lowered by StockNews.com

by · The Markets Daily

StockNews.com lowered shares of PPG Industries (NYSE:PPG – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

Several other equities analysts also recently weighed in on PPG. Citigroup dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada lowered their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

Check Out Our Latest Research Report on PPG

PPG Industries Stock Performance

PPG opened at $120.21 on Friday. The firm has a market capitalization of $27.89 billion, a PE ratio of 19.05, a PEG ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries has a twelve month low of $118.07 and a twelve month high of $150.82. The firm’s 50-day moving average price is $124.99 and its 200 day moving average price is $126.21.

PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that PPG Industries will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Connections Group Inc. acquired a new stake in PPG Industries in the second quarter worth about $25,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the third quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the second quarter valued at approximately $37,000. Finally, Hara Capital LLC bought a new stake in PPG Industries during the third quarter worth approximately $40,000. Institutional investors own 81.86% of the company’s stock.

About PPG Industries

(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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