Mizuho Cuts PPG Industries (NYSE:PPG) Price Target to $150.00

PPG Industries (NYSE:PPG) had its target price decreased by Mizuho from $160.00 to $150.00 in a report published on Thursday morning, Marketbeat Ratings reports. Mizuho currently has an outperform rating on the specialty chemicals company’s stock.

PPG has been the subject of a number of other reports. UBS Group lifted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. KeyCorp dropped their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America reduced their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.50.

PPG Industries Trading Down 0.3 %

Shares of PPG stock opened at $130.93 on Thursday. The company has a market capitalization 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 52-week low of $118.07 and a 52-week high of $151.16. The business’s fifty day moving average is $127.21 and its 200 day moving average is $129.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49.

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

PPG Industries Announces Dividend

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

Hedge Funds Weigh In On PPG Industries

Hedge funds have recently made changes to their positions in the business. Kingsview Wealth Management LLC raised its holdings in shares of PPG Industries by 0.9% during the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after purchasing an additional 76 shares during the last quarter. Applied Capital LLC FL grew its position in PPG Industries by 1.3% in the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after purchasing an additional 82 shares during the period. Oregon Public Employees Retirement Fund raised its stake in PPG Industries by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after buying an additional 82 shares during the last quarter. Klingman & Associates LLC lifted its holdings in shares of PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after buying an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc boosted its stake in shares of PPG Industries by 0.6% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after buying an additional 84 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.