PPG Industries (NYSE:PPG) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of PPG Industries (NYSE:PPG) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets reissued 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. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, Mizuho lowered their target price 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. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Up 0.0 %

Shares of NYSE:PPG opened at $123.41 on Wednesday. The company has a fifty day moving average of $126.80 and a 200-day moving average of $127.22. The company has a market capitalization of $28.63 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.07 earnings per share. On average, equities analysts predict that PPG Industries will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently modified their holdings of PPG. Price T Rowe Associates Inc. MD increased its position in shares of PPG Industries by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock valued at $68,692,000 after acquiring an additional 3,448 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of PPG Industries by 29.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company’s stock valued at $732,000 after purchasing an additional 1,158 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of PPG Industries by 145.0% during the 1st quarter. Tidal Investments LLC now owns 23,584 shares of the specialty chemicals company’s stock valued at $3,417,000 after purchasing an additional 13,959 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of PPG Industries by 199.7% during the 1st quarter. iA Global Asset Management Inc. now owns 18,267 shares of the specialty chemicals company’s stock valued at $2,647,000 after purchasing an additional 12,171 shares in the last quarter. Finally, Wahed Invest LLC boosted its stake in shares of PPG Industries by 14.5% during the 1st quarter. Wahed Invest LLC now owns 4,587 shares of the specialty chemicals company’s stock valued at $665,000 after purchasing an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.