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

Shares of PPG Industries, Inc. (NYSE:PPG) have been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $149.29.

Several research firms have recently weighed in on PPG. Citigroup dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. 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 for the company in a report on Tuesday, October 22nd. Finally, Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th.

PPG Industries Stock Performance

NYSE:PPG opened at $120.21 on Friday. 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 fifty-two week low of $118.07 and a fifty-two week high of $150.82. The stock has a market capitalization of $27.89 billion, a PE ratio of 19.05, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a fifty day moving average of $124.99 and a two-hundred day moving average of $126.25.

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

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PPG. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries in the third quarter valued at $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries during the 2nd quarter valued at $37,000. Finally, Hara Capital LLC acquired a new position in PPG Industries in the 3rd quarter worth approximately $40,000. 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.