PPG Industries, Inc. (NYSE:PPG) Receives Average Recommendation of “Moderate Buy” from Brokerages

PPG Industries, Inc. (NYSE:PPG) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $149.93.

A number of equities analysts recently issued reports on PPG shares. Royal Bank of Canada dropped their price objective 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. JPMorgan Chase & Co. dropped 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 note on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, Mizuho cut their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently added to or reduced their stakes in PPG. State Street Corp grew its holdings in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP boosted its position in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after purchasing an additional 368,410 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of PPG Industries by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after buying an additional 36,047 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 2.6 %

Shares of PPG stock opened at $125.81 on Tuesday. 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 has a 12-month low of $118.07 and a 12-month high of $151.16. The stock has a market capitalization of $29.19 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.88 and a beta of 1.26. The firm’s 50 day moving average is $126.97 and its 200 day moving average is $127.34.

PPG Industries (NYSE:PPG) last released 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 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business earned $2.07 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts expect that PPG Industries will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given 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 2.16%. PPG Industries’s dividend payout ratio is 43.11%.

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.