PPG Industries (NYSE:PPG) PT Lowered to $145.00 at JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) had its price target decreased by JPMorgan Chase & Co. from $155.00 to $145.00 in a research report report published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

A number of other research firms have also recently commented on PPG. UBS Group boosted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. 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. Bank of America cut their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Finally, Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.50.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $130.93 on Friday. The stock has a market cap of $30.55 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.73 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 has a fifty day moving average price of $127.21 and a 200-day moving average price of $129.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company posted $2.07 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts anticipate that PPG Industries will post 8.24 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 44.59%.

Institutional Investors Weigh In On PPG Industries

Several institutional investors have recently made changes to their positions in PPG. Vanguard Group Inc. raised its position in PPG Industries by 17.2% in 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 during the period. Dimensional Fund Advisors LP grew its stake in shares of PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after buying an additional 249,406 shares during the period. SG Americas Securities LLC lifted its stake in shares of PPG Industries by 549.0% during the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after acquiring an additional 216,675 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in PPG Industries in the 1st quarter valued at $31,033,000. Institutional investors own 81.86% of the company’s stock.

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.