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

Shares of PPG Industries, Inc. (NYSE:PPG) have received an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $151.08.

Several equities analysts recently issued reports on the stock. Bank of America dropped their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. UBS Group boosted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. 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 research report on Monday, July 22nd. Finally, BMO Capital Markets dropped their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd.

Hedge Funds Weigh In On PPG Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rafferty Asset Management LLC grew its holdings in PPG Industries by 3.1% in the 4th quarter. Rafferty Asset Management LLC now owns 20,858 shares of the specialty chemicals company’s stock worth $3,119,000 after acquiring an additional 631 shares during the last quarter. Stephens Inc. AR lifted its position in PPG Industries by 8.6% during the 4th quarter. Stephens Inc. AR now owns 11,772 shares of the specialty chemicals company’s stock valued at $1,760,000 after acquiring an additional 931 shares during the period. Security National Bank purchased a new position in PPG Industries during the 4th quarter valued at about $37,000. Elo Mutual Pension Insurance Co raised its holdings in PPG Industries by 4.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 20,562 shares of the specialty chemicals company’s stock worth $3,075,000 after buying an additional 859 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of PPG Industries by 13.3% in the fourth quarter. State of Tennessee Treasury Department now owns 185,104 shares of the specialty chemicals company’s stock worth $27,682,000 after acquiring an additional 21,696 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $128.25 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 1.72 and a beta of 1.26. The firm’s 50 day simple moving average is $125.99 and its 200 day simple moving average is $129.75. PPG Industries has a 1 year low of $118.07 and a 1 year high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the business posted $2.25 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts expect that PPG Industries will post 8.24 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were issued a dividend of $0.68 per share. The ex-dividend date was Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.12%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is currently 44.59%.

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.