PPG Industries, Inc. (NYSE:PPG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $149.93.

Several equities analysts have recently issued reports on PPG shares. Bank of America decreased their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research 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 for the company in a research note on Monday, July 22nd. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $124.64 on Friday. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.90 and a beta of 1.26. PPG Industries has a 1-year low of $118.07 and a 1-year high of $151.16. The firm’s 50-day moving average price is $127.90 and its two-hundred day moving average price is $128.12. 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 (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 analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm earned $2.07 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that PPG Industries will post 8.19 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.18%. PPG Industries’s dividend payout ratio is 43.11%.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were 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 directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On PPG Industries

Several hedge funds have recently bought and sold shares of the company. Financial Connections Group Inc. bought a new position in PPG Industries during the second quarter worth $25,000. Capital Performance Advisors LLP bought a new position in PPG Industries in the 3rd quarter valued at about $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries during the second quarter worth approximately $37,000. Hara Capital LLC bought a new stake in shares of PPG Industries during the third quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of PPG Industries in the third quarter valued at approximately $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.