PPG Industries (NYSE:PPG) Earns Outperform Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of PPG Industries (NYSE:PPG) in a research note issued to investors on Monday, Benzinga reports. BMO Capital Markets currently has a $155.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $160.00.

Several other equities research analysts also recently commented on PPG. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Barclays reduced their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, UBS Group lifted their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

Shares of PPG stock opened at $126.28 on Monday. The firm has a 50 day moving average of $127.69 and a 200-day moving average of $128.83. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.73. PPG Industries has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last posted 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 company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.58%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. On average, equities analysts forecast that PPG Industries will post 8.19 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Hedge Funds Weigh In On PPG Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after acquiring an additional 279,455 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after acquiring an additional 249,406 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after purchasing an additional 216,675 shares in the last quarter. 81.86% of the stock is 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.