PPG Industries, Inc. (NYSE:PPG) Receives Average Rating of “Hold” from Analysts

Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $158.40.

Several research analysts have recently weighed in on PPG shares. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. Royal Bank of Canada lowered their price objective on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research report on Monday, January 22nd. KeyCorp decreased their target price on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $173.00) on shares of PPG Industries in a research report on Thursday, March 7th. Finally, Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $150.00 to $163.00 in a research report on Thursday.

PPG Industries Stock Down 2.3 %

Shares of PPG opened at $134.43 on Monday. The company has a market capitalization of $31.64 billion, a PE ratio of 25.17, a PEG ratio of 1.61 and a beta of 1.28. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89. The stock’s 50-day moving average price is $140.87 and its two-hundred day moving average price is $138.87. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.49 by $0.04. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the business earned $1.22 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that PPG Industries will post 8.46 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.93%. PPG Industries’s payout ratio is presently 48.69%.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

Several institutional investors have recently bought and sold shares of PPG. Moneta Group Investment Advisors LLC lifted its position in shares of PPG Industries by 163,082.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after acquiring an additional 4,155,341 shares in the last quarter. Norges Bank purchased a new stake in shares of PPG Industries during the fourth quarter worth $554,685,000. Vanguard Group Inc. lifted its position in shares of PPG Industries by 17.2% during the fourth quarter. Vanguard Group Inc. now owns 24,480,664 shares of the specialty chemicals company’s stock worth $3,661,083,000 after acquiring an additional 3,600,558 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of PPG Industries by 602,706.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock worth $331,994,000 after purchasing an additional 2,639,853 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of PPG Industries by 280.6% in the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after purchasing an additional 1,279,104 shares during the period. 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.